this post was submitted on 11 Dec 2024
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Fuck Judge Lopez for caring more about money than justice.
It's technically the law. Bankruptcy procedures are geared to enable the return of the maximum amount of proceeds for the creditors.
Sealed bid kind of torpedos that I suppose, but considering the shit stain on history that Infowars is, I feel like an exception should have been made here.
Sealed buds are usually better for that.
https://www.investopedia.com/terms/s/sealed-bid-auction.asp
Each party is incentivised to make the highest offer they're willing to pay from the beginning, as opposed to negotiating the best price they can get.
Additionally, the families forgiving a significant amount of money as part of the bid should factor in, since the responsibility of the estate is to get the best deal, not the most cash.