The Weinstein Company’s $310 Million Sale of Assets to Lantern Asset Management

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware approved the sale of the assets of The Weinstein Company Holdings LLC (“TWC”) to Lantern Asset Management (“Lantern”) for $310 million in cash plus the assumption of up to $127.5 million in liabilities.

The approval follows TWC’s filing of a voluntary petition for Chapter 11 bankruptcy in March 2018. In connection with the filing, the company entered into a “stalking horse” agreement with an affiliate of Lantern, under which Lantern agreed to purchase substantially all of the assets of TWC, subject to certain conditions including the Bankruptcy Court’s approval. Cravath is representing TWC in connection with the Chapter 11 case, the transaction with Lantern and related debtor-in-possession financing.

The Cravath team includes partners Paul H. Zumbro (Picture) and George E. Zobitz and associates Paul L. Sandler, Stephanie A. Marshak and Evan E. H. Schladow on restructuring matters; partner Karin A. DeMasi and associates David A. Herman, Lauren Roberta Kennedy, David Kumagai, Claire E. O’Brien and Daniel A. Silver on litigation matters; partner Andrew C. Elken and associates Andrew M. Wark and Tianyang Lin on M&A matters; partner Michael S. Goldman and associate Sanjay Murti on financing matters; partner Eric W. Hilfers and associate Matthew Cantor on executive compensation and benefits matters; and partners Andrew W. Needham and Kara L. Mungovan and associate Richard Bohm on tax matters. Catriela Cohen also worked on restructuring matters and Monica D. Kozycz worked on litigation matters.

Involved fees earner: Paul Zumbro – Cravath Swaine & Moore; George E. Zobitz – Cravath Swaine & Moore; Paul Sandler – Cravath Swaine & Moore; Karin DeMasi – Cravath Swaine & Moore; David Herman – Cravath Swaine & Moore; Lauren Roberta Kennedy – Cravath Swaine & Moore; David Kumagai – Cravath Swaine & Moore; Andrew C. Elken – Cravath Swaine & Moore; Andrew Wark – Cravath Swaine & Moore; Michael Goldman – Cravath Swaine & Moore; Sanjay Murti – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Matthew Cantor – Cravath Swaine & Moore; Andrew Needham – Cravath Swaine & Moore; Kara Mungovan – Cravath Swaine & Moore; Richard Bohm – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: The Weinstein Company Holdings LLC;