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
2497 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
The estate has a duty to maximize the value of the liquidation, and pay back creditors as best it can. Specifically to settle the debts.
While a creditor can't dictate the value of the estate, they can offer to forgive debt, which is the same for the purposes of the estate.
If the cancelled debt would have been worth more than the cash, then the creditors would be rightfully furious if the state instead sold the asset for less cash and paid them that way.
If you owe me $50k, and I tell you your watch is worth $5k to me, and instead you sell it for $250 and give me that while declaring bankruptcy so I don't get anything else, that's a terrible outcome for me, and great for you if you sold the watch to your friend who then gave it back to you in exchange for $250 later.