Holy shit ... listening to this hearing, I think this Infowars sale to The Onion may not go through. It's certainly not going through right away. - ThreadSky

lizdye.bsky.social • 106 days ago

Holy shit ... listening to this hearing, I think this Infowars sale to The Onion may not go through. It's certainly not going through right away.

Reposted from P. Andrew Torrez

🚨Bankruptcy judge Christopher Lopez has ordered an evidentiary hearing regarding the InfoWars auction.

"No one should be comfortable with the results of this process," he said.

There were only 2 bidders: The Onion/CT plaintiffs on the one hand and what we infer is the Alex Jones sham group, FUAC.

Comments

ugarles.bsky.social•106 days ago

link?

lizdye.bsky.social•106 days ago

https://bsky.app/profile/andrewtorrez.bsky.social/post/3lawiaemsys2z

ugarles.bsky.social•106 days ago

thanks

clio.bsky.social•105 days ago

I still don't get it, why let that toxic brand survive?

gojira1000.bsky.social•106 days ago

I'm still trying to see how two sealed bids was a problem in any way

lizdye.bsky.social•106 days ago

Because one was all cash, and one was cash and debt forgiveness

gojira1000.bsky.social•106 days ago

Ahh ok now I get it

andycraig.bsky.social•106 days ago

Debt forgiveness by who, the Sandy Hook plaintiffs? Other creditors? In any event, I don't see how that's materially different from putting up cash. The estate comes out the same dollar for dollar, no?

andycraig.bsky.social•106 days ago

I guess it could mess with the prioritization of the creditors, somebody "spending" their share which was a lower priority or never would have been paid in full, as opposed to cash in the door being distributed the regular way.

bonezonebulger.bsky.social•106 days ago

That was my original thought process, who has the first priority to the claims because in bankruptcy that order is real fucky sometimes.

I can see the judge wanting to protect that other creditors' right first and prefer the cash offer. But like the trustee's gotta know all this? Just odd.

ericb013.bsky.social•106 days ago

Debt forgiveness as part of the bid? Like, Jones owed FUAC, and it was going to forgive Alex Jones' debt? Is that somehow preferable to the trustee?

With the Onion cash bid, the families get more, though, right? How is that not preferable to maximize their recovery as the primary creditor?

audrey60.bsky.social•106 days ago

FUAC was the cash bid and The Onion was “cash and debt forgiveness”

ericb013.bsky.social•106 days ago

Thanks--who was forgiving what debt was not clear. It looked like maybe the people behind FUAC had previously been in business with Jones, so I assumed they must have been forgiving something still owed to them. (I guess I'll just have to tune into the podcast.)

itzspelledgeoff.bsky.social•106 days ago

phillipmalone.com•106 days ago

I actually wondered if, and if not why not or it should be the case, the people owed the money in the bankrupcy couldn't bid on the auction using the money they are owed. Im sure better minds then I would point out why that would be dangerous but seems if you put a higher value on the asset than....

phillipmalone.com•106 days ago

...what was being bid on it,why cant you just keep the asset at the value you bid on it!!!! So,and I am just waking up and might not understand it, if the owed parties take one bid over another, seems fine to me.Maybe they should have to reduce the debt by the largest valid bid,but otherwise gameon!

petree09.bsky.social•106 days ago

My guess while listening: the sale will eventually be approved after the evidentiary hearing. Judge Lopez is obviously displeased about the transparency of the process to date. But now that a hearing will occur that spells out the bids/process, I suspect Lopez will likely approve.

valwarhall.bsky.social•106 days ago

Here I go again!

lizdye.bsky.social•106 days ago

WHOA! Okay, we will have a whole podcast on what just happened in bankruptcy court with the Infowars/Onion deal in the morning. Going to record now.

https://podcasts.apple.com/us/podcast/law-and-chaos/id1727769913