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Losing bidder seeks to disqualify bid by The Onion in Alex Jones bankruptcy
(www.courthousenews.com)
Losing bidder sounds like a sore loser.
this post was submitted on 18 Nov 2024
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Sounds like a front man for Jones.
Wasn't that company owned by his parents or something? I think John Oliver or somebody did a story on all the shell companies he's been embezzling money into to scam the sandy hook victims.
Owned by his dad and setup so that Jones could just step in and keep operating it
They went over this in the latest knowledge fight and it appears to be owned by one Chase Brandon Geiser, an employee of Alex's.
*Brendan
Ah yes! How could I forget the further home movies connection!
"Brendan put down the camera and I'm kick the ball-onet burger," a bother with a slice of Baloney and Dijon mustard... Is what I WOULD be eating if you DIDN'T FILL THE FRIDGE WITH YOUR PROTEIN DRINKS CYRIL.
Surely, bankruptcy courts must be familiar with the tactic of "using shell companies to buy your own stuff back at bankruptcy auction for pennies on the dollar."
They are, and it's definitely fraud. The question is whether they'll do anything about it
First United American Companies sounds like a totally legit company. What are you talking about?
/s
Maybe its owned by AEJ Holdings, a real company that could be owned by anyone.
It is.
They were supposed to buy InfoWars to keep Alex Jones on air. Obvious satirists The Onion weren't supposed to be the 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
They could've come forward with more money and win, but here we are reading this.
Please stay informed. The losing bidder offered more money, but the victims of Alex Jones chose a lower bid instead of just giving the microphone straight back to Jones’ family.
Strictly speaking, the losing bidder offered more cash, but the victims families offered concessions in the amount of damages they'd seek as part of The Onions offer, which would bring the total value of The Onions offer to higher, and that's why they won.
First United submitted a cash bid of $3.5 million dollars. By contrast, Cicack said, The Onion’s bid contained only $1.75 million in cash, alongside a waiver from the Connecticut families setting aside any of their earnings from the auctioned assets.
But Cicack challenged the use of this waiver, arguing it was "conditional and contingent" and "the equivalent of 'monopoly' money" and "simply has no value."
All money is monopoly money. It's all fake paper that has no intrinsic value, because the true value is what everyone agrees on. Their waiver ensure more monopoly money to the plaintiffs than your monopoly money bid.
You lost. Shut up. Go home.