Fallen Hollywood producer Harvey Weinstein has reached a provisional R637 million settlement with alleged victims and creditors according to a report in the Wall Street Journal.
Although not yet signed, the deal will cover all civil proceedings against the disgraced Hollywood media mogul. The proceedings aim specifically to guarantee the alleged victims will be compensated. The settlement amount will be paid out by insurance agencies, the Journal reported, several of which count The Weinstein Company, the production company Weinstein co-founded, among their clients.
The settlement does not exempt Weinstein from the criminal proceedings brought against him for sexual assault, for which he will go on trial in September. Weinstein has been charged with the alleged assaults of two women and faces life in prison if he is convicted at the trial, which could last five weeks.
Weinstein's spokesperson declined to comment.
