So, US Bankruptcy Judge Christopher M. Lopez has ruled against The Onion's winning bid to take over Alex Jones' Infowars.
Much like retired Judge Robert Drain, of Purdue Pharma infamy, who later secured a very comfortable sinecure with the Corporate Restructuring Group at the law firm Skadden, Arps, Slate, Meagher & Flom, he has one of the busiest bankruptcy dockets in the nation, because he is INCREDIBLY friendly to corporate debtors. (As an aside, a judge in the Houston court was forced to resign after it was discovered that he was living with a partner at a firm that frequently had cases before him)
I am not saying that Alex Jones or his Evil Minions™ paid the judge, I am saying that he does this sh%$ because he wants the prestige associated with big cases, and not to spend his time adjudicating bankruptcies of landscaping companies and swimming pool installers.
Now we have this garbage ruling:
A bankruptcy judge rejected The Onion‘s planned acquisition of Alex Jones‘ Infowars via a bankruptcy auction.
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Jones’ Infowars has made tens of millions from spreading conspiracy theories. He had made the false claim that the 2012 shooting massacre at Sandy Hook Elementary School was a hoax, something that led to families of the victims receiving harassing threats even as they grieved the deaths of their children. The shooter murdered 26 people in the school, including 20 children.
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Per the AP, The Onion offered $1.75 million in cash for Infowars’ assets. A company affiliated with Jones bid $3.5 million. The judge said that the auction should have maximized the amount that could be raised in the bankruptcy process, including for the Sandy Hook families, the AP reported.
The reason for his rejection? That the bidding process was improper because it, “Left money on the table,” because it used a closed bidding process.
Literally every single creditor was was better off: The Connecticut plaintiffs kept Infowars out of Jones’s hands, the Texas plaintiffs got dimes on the dollar rather than fractions of cent, as did the rest of the creditors.
Jones’ bid was $3½ million, and The Onion’s bid was $1.75 million in cash, with the Connecticut families throwing in $5.25 million of their award for a total of $7 million.
$7 million is bigger than $3½ million. The math is simple here, and I’d call the judge a schmuck, but a schmuck has a head.
