The losing bidder in last week’s bankruptcy auction for conspiracy theorist Alex Jones’ assets, including his infamous Infowars website, filed an emergency motion on Monday morning to disqualify The Onion’s winning bid.
The losing bidder in last week’s bankruptcy auction for conspiracy theorist Alex Jones’ assets, including his infamous Infowars website, filed an emergency motion on Monday morning to disqualify The Onion’s winning bid.
Not to play Devil’s advocate, but didn’t the onion basically pay with an IOU?
Not quite. Although the “losing bid” here was of a higher payment amount. However, the trustee chose the onion bid because the families who are owed assets out of the settlement were willing to forgo some of the payments they are owed to back the onion bid. That would lead to more being paid back to Jone’s creditors than with the straight cash bid.
So it is a bit of a unique situation and the court is right to verify that the trustee made the right call. Ultimately the onion bid should be the winner since bankruptcy proceedings should prioritize paying creditors.
More like a UOML