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Bankruptcy judge rejects sale of Infowars to The Onion

nytimes.com

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Re: Bankruptcy judge rejects sale of Infowars to The Onion

#11

Post by acomjean »

alwa wrote: post #10
pclmulqdq wrote: post #6

This is probably the correct decision. Alex Jones's vitamin company offered 2x more cash, and in the case of a bankruptcy, cash completely trumps any notion of "giving up debt." Especially when the debt being settled is astronomically large and you are giving up a very small portion of it ($7 million out of $1.5 billion). The other creditors are far better off getting more cash, and those $7 million of claims are wor…

Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…

Selling to a business involved with the individual that lost in court.. It seems like a Fraudulent Conveyance to my non lawyer self (but I could be wrong)

https://en.m.wikipedia.org/wiki/Fraudulent_conveyance

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#13

Post by UncleOxidant »

pclmulqdq wrote: post #6

This is probably the correct decision. Alex Jones's vitamin company offered 2x more cash, and in the case of a bankruptcy, cash completely trumps any notion of "giving up debt." Especially when the debt being settled is astronomically large and you are giving up a very small portion of it ($7 million out of $1.5 billion). The other creditors are far better off getting more cash, and those $7 million of claims are wor…

> Alex Jones's vitamin company offered 2x more cash

Wait, isn't Alex Jone's essentially bankrupted by the ruling for the Sandy Hook parents? If he has that much cash to offer wouldn't that have been given to the parents who won the suit?

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#14

Post by rfw300 »

acomjean wrote: post #11
alwa wrote: post #10

Earlier quoted context omitted.

Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…

Selling to a business involved with the individual that lost in court.. It seems like a Fraudulent Conveyance to my non lawyer self (but I could be wrong) https://en.m.wikipedia.org/wiki/Fraudulent_conveyance

It's not a good outcome, but it's also not fraudulent conveyance. Principally because the proceeds of the sale go to the victims.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#16

Post by UltraSane »

pclmulqdq wrote: post #6

This is probably the correct decision. Alex Jones's vitamin company offered 2x more cash, and in the case of a bankruptcy, cash completely trumps any notion of "giving up debt." Especially when the debt being settled is astronomically large and you are giving up a very small portion of it ($7 million out of $1.5 billion). The other creditors are far better off getting more cash, and those $7 million of claims are wor…

How can any entity related to Alex Jones be allowed to buy the InfoWars assets?

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#17

Post by unsnap_biceps »

bboygravity wrote: post #15
mrtksn wrote: post #12

[flagged]

Context needed about why Musk blocked The Onion accounts?

Musk filed saying that he owns the X accounts and they aren't allowed to be sold according to the TOS. The X accounts were removed from the pending sale.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#18

Post by unsnap_biceps »

UncleOxidant wrote: post #13
pclmulqdq wrote: post #6

This is probably the correct decision. Alex Jones's vitamin company offered 2x more cash, and in the case of a bankruptcy, cash completely trumps any notion of "giving up debt." Especially when the debt being settled is astronomically large and you are giving up a very small portion of it ($7 million out of $1.5 billion). The other creditors are far better off getting more cash, and those $7 million of claims are wor…

> Alex Jones's vitamin company offered 2x more cash Wait, isn't Alex Jone's essentially bankrupted by the ruling for the Sandy Hook parents? If he has that much cash to offer wouldn't that have been given to the parents who won the suit?

I believe officially the vitamin company is owned by his parents and isn't included in the judgement against Alex Jones.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#19

Post by Mountain_Skies »

UncleOxidant wrote: post #13
pclmulqdq wrote: post #6

This is probably the correct decision. Alex Jones's vitamin company offered 2x more cash, and in the case of a bankruptcy, cash completely trumps any notion of "giving up debt." Especially when the debt being settled is astronomically large and you are giving up a very small portion of it ($7 million out of $1.5 billion). The other creditors are far better off getting more cash, and those $7 million of claims are wor…

> Alex Jones's vitamin company offered 2x more cash Wait, isn't Alex Jone's essentially bankrupted by the ruling for the Sandy Hook parents? If he has that much cash to offer wouldn't that have been given to the parents who won the suit?

Likely different legal entities. Johnson & Johnson tried to get out of the talc powder settlement by creating a different legal entity to contain responsibility and damages. A court ruled that invalid but this type of corporate entity manipulation happens all the time. With the vitamin company, it might be that Jones is not majority owner of it but the other owners are sympathetic to him. Giving Jones' ownership stake to the Infowars creditors wouldn't change anything if Jones is not the controlling owner. This is all supposition on my part and perhaps he is the controlling owner but the court for some reason decided not to include it in his bankruptcy assets. It's a weird world when we allow artificial people to exist in the form of corporations.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#20

Post by citizenkeen »

acomjean wrote: post #11
alwa wrote: post #10

Earlier quoted context omitted.

Isn't it a little strange, though, that the system notionally decided that the families are owed an enormous amount of economic power as compensation for the nasty behavior of Alex Jones' media company, but at the same time it's obliging them not to use that economic power to prevent the sale of the media company to a "new owner" still affiliated with an unrepentant Alex Jones, who will undoubtedly continue the nasty…

Selling to a business involved with the individual that lost in court.. It seems like a Fraudulent Conveyance to my non lawyer self (but I could be wrong) https://en.m.wikipedia.org/wiki/Fraudulent_conveyance

[flagged]
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