Weinstein and Lev Leviev Team Up for a Pity Party

Harvey Weinstein is the co-founder of the Weinstein Company, the struggling studio that has produced very few hits over the past year, has seen a handful of senior of execs flee for the exits in recent weeks, and has been immersed in a nasty legal spat with NBC over the fate of his one big hit, Project Runway, over the past few months. (Further evidence of his financial woes: He owes Cindy Adams $10,000 and has refused to pay up.) Lev Leviev might be a less familiar name to you. He's the Ubekistan-born, Orthodox Jewish diamond and real estate billionaire who lives in Israel and controls the Africa-Israel Group, which dominates the diamond mining industry in Angola and owns a good deal of real estate, too, including the former headquarters of the New York Times.

Like Weinstein, Leviev is having a rough time at the moment. As the Observer reported in October, Leviev owes about 14 billion shekels ($4 billion U.S.) to a consortium of Israeli banks, institutions that are now a bit worried that the over-extended Leviev may ultimately default on the loans.

So it's only natural that the two beleaguered businessmen are coming together to throw a party, right? And what is it that is bringing the two men together on Thursday night? Yet another train-wreck-in-the-making, ASmallWorld, the "social network" that has gobbled up more than $40 million of money (some of which has come from Weinstein's pockets), but hasn't been remotely relevant since the tail-end of 2005.

Leviev, Weinstein and ASmallWorld are keeping up brave faces. The invite to the party was sent out under the heading "Socials Buck the Recession with Champagne & Diamonds," and Jennifer Creel, Gillian Hearst-Shaw, Amanda Hearst, Annelise Peterson, Dalia Oberlander, and Annie Churchill are expected to turn up. If you make an appearance yourself, just don't be surprised when a collection jar makes the rounds.

Bucking Economy, ASmallWorld and Diamond Billionaire Lev Leviev to Host 'Diamonds & Champagne' Party for Socialites [NYO]