352
Judge Rejects Sale of Infowars to The Onion
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 11 Dec 2024
352 points (97.3% liked)
Technology
59983 readers
3358 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
"A sale is a sale" works fine when both sides to the transaction are well-informed and acting for themselves. When you are selling assets for someone else's benefit, you generally have extra obligations to them, because otherwise you don't really have an incentive to achieve a good price. So courts do generally have some oversight over sale of the assets of a bankrupt estate, to ensure that the trustee is not short-changing creditors just to get the job done quickly.
A complicating factor here is that the Sandy Hook families (who as far as I know are the large majority of the creditors) also supported the sale.
I assume there are other creditors who didn't?
AFAIK the damages paid to the Sandy Hook families were the sole reason he went bankrupt in the first place; without them he'd be profiting.