Reps for Weinstein, the NY attorney general's office, and a lawyer for the plaintiffs did not immediately respond to PEOPLE's request for comment.
Harvey Weinstein (left) leaves State Supreme Court with his defense attorney Ben Brafman on Monday after pleading not guilty at an arraignment on charges that he committed a sex crime against a third woman on July 9, 2018 in New York City.
Since October 2017, Weinstein - one of the most powerful men in Hollywood before a cascade of sexual misconduct allegations precipitated his downfall - has been accused of sexual harassment and assault by more than 80 women.More news: Trump on possibility of talks with Iran
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Instead, sources familiar with negotiations say that it will come from various insurance policies held by Weinstein's former company and others. That's the goal of the meditations that began a year ago anyway, but it's also possible that one or more of the suits would end up being excluded from any agreed upon settlement.
Adam Harris, a lawyer for Weinstein Co.co-founder Bob Weinstein, told a bankruptcy court judge on Thursday (May 23) that "an economic agreement in principal" had been reached in the case.
It would also settle a civil lawsuit brought forward by the NY attorney general accusing Weinstein's movie company of violating labor laws by allowing the alleged abuse and harassment to continue unchecked.
A bankruptcy judge will decide on whether to approve the settlement June 4. Weinstein denies all allegations of nonconsensual sex. $44 million is on the table to resolve all pending civil suits against Weinstein and former affiliates, including a number of sexual misconduct incidents dating back to the 90's. An initial trial will take place early September.
"I think this is positive for the victims involved and this helps them avoid the stress and trauma of full litigation", said Aaron Filler, a California-based attorney for actress Paz de la Huerta, who said Weinstein raped her in her apartment on two separate occasions in 2010.