> The exact bid amount offered by the Onion for InfoWars remains unknown, but it has been reported it was lower than First United American’s bid of $3.5m.
Sounds a lot like FUA won the auction, but the trustee is playing games. The judge ordered a public auction, the trustee and the creditors don't get to side-step the judge's order because some of them might perceive their actions to be a better outcome.
Not really. Trustee’s obligation is to the creditors. Some of the creditors agreed to release their claims if it went to a third party. That has monetary value.
Though I don't know how you conduct a fair auction now that two key bidders' bids have been revealed.
Sounds a lot like FUA won the auction, but the trustee is playing games. The judge ordered a public auction, the trustee and the creditors don't get to side-step the judge's order because some of them might perceive their actions to be a better outcome.
Not really. Trustee’s obligation is to the creditors. Some of the creditors agreed to release their claims if it went to a third party. That has monetary value.
Jones was sued and lost. Now his assets are being liquidated to pay off (a small part of) the judgment against him.
Two entirely different concepts.