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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

#31

Post by dukeofdoom »

Wait, so you can be fined 1.5 Billion for reporting on a conspiracy theory?

BTW, this is a lot more than pharmaceutical companies pay out for actually killing people.

I remember watching the trial and it was the most ridiculous thing every. The defendant (Alex) wasn't allowed to say he's innocent because the judge defaulted him. Yet the prosecution was allowed to bring in all kinds of evidence of his guilt (other than him being defaulted) and present that to the jury.

So in essence, you're guilty because the judge said so, and the prosecution gets to pile on about your guilt, but you can't testify to the jury counter your guilt. Yet somehow this a jury trial.

The other ridiculous thing was he was defaulted for namely not showing Youtube ad revenue for his shows, after youtube deleted his channel.

They also awarded an FBI agent, I guess for hurt feelings, not even related to the families.

1.5 Billion .... apparently not a political prosecution of a critic, designed to silence him by taking InfoWars off air.

You know when Alex offered $55 million to settle. The lawyers somehow decided to get less by pushing for the bankruptcy.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#32

Post by habinero »

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…

No, Legal Eagle covered the sale, and the agreement giving it to the Onion maximized the proceeds to both of the Sandy Hook groups that have won judgement against Alex Jones. With the sale to Alex Jones's set of straw buyers, that wasn't true.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#33

Post by ipaddr »

rfw300 wrote: post #14
acomjean wrote: post #11

Earlier quoted context omitted.

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.

They go to the creditors including his primary sponsor. This is not a bad outcome it's the only correct legal outcome.

What you are saying is we should allow a creditor (of many) to sell an asset to whoever they choose at a lower market rate because it's the right political move in this one case. Why wouldn't those rules be applied in other cases.. you can sell any asset for a dollar to yourself and the bankrupt person will still be on the hook for the total debt minus a dollar. Letting a single creditor value assets below marketrate and direct a sale to someone they wanted would be a completely unfair process.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#34

Post by habinero »

geor9e wrote: post #28
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…

Are there practically any other creditors? I would think the creditor owed $1.5B would cause all other creditors to become irrelevant rounding errors as a fraction of a percent. So if the families were to bid $X, then they'd be paying it right back into their other pocket. Seems like just a technicality or theatrics to require them to temporarily come up with cash just to give it right back to themselves. But lawyers…

Yes, the set of Sandy Hook parents who won $1.5B would normally get essentially everything, but the Onion agreement had the minority creditors get a lot more money.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#36

Post by piva00 »

dukeofdoom wrote: post #31

Wait, so you can be fined 1.5 Billion for reporting on a conspiracy theory? BTW, this is a lot more than pharmaceutical companies pay out for actually killing people. I remember watching the trial and it was the most ridiculous thing every. The defendant (Alex) wasn't allowed to say he's innocent because the judge defaulted him. Yet the prosecution was allowed to bring in all kinds of evidence of his guilt (other tha…

[flagged]

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#37

Post by refulgentis »

bsimpson wrote: post #9
seltzered_ wrote: post #4

Statement from The Onion (via CEO Ben Collins): https://bsky.app/profile/bencollins.bsky.social/post/3lcyypa...

I appreciate that the tweet actually had context about what happens next: "…continue to seek a path towards purchasing…" "…back to the drawing board…" The article could have used those details. ----- [edit] They've updated the article.

It said that exact thing, but didn't need a number of tweets to say it. Advantage: article.

Re: Bankruptcy judge rejects sale of Infowars to The Onion

#39

Post by refulgentis »

dukeofdoom wrote: post #31

Wait, so you can be fined 1.5 Billion for reporting on a conspiracy theory? BTW, this is a lot more than pharmaceutical companies pay out for actually killing people. I remember watching the trial and it was the most ridiculous thing every. The defendant (Alex) wasn't allowed to say he's innocent because the judge defaulted him. Yet the prosecution was allowed to bring in all kinds of evidence of his guilt (other tha…

Well, no...backs away slowly
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