He cares about money alright. The deposit he got from interesting parties before making this decision.
Comment on Judge Rejects Sale of Infowars to The Onion
spankmonkey@lemmy.world 3 months ago
Fuck Judge Lopez for caring more about money than justice.
KingThrillgore@lemmy.ml 3 months ago
dhork@lemmy.world 3 months ago
He would never accept a deposit from the interested parties before making this decision. That would be a bribe, and extremely illegal.
He will accept his deposit from the interested parties after making the decision. That is a gratuity, and is now totally legal, thanks to SCOTUS.
just_another_person@lemmy.world 3 months ago
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.
ricecake@sh.itjust.works 3 months ago
Sealed buds are usually better for that.
www.investopedia.com/…/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.
SkaveRat@discuss.tchncs.de 3 months ago
Problem is why did that auction even happen or rather was allowed if it was technically now allowed for a bankrupcy case?
Feels like intentional so they can go “well, we don’t like the winner. time to revoke it”
themeatbridge@lemmy.world 3 months ago
Sealed bids encourage last and best offers, and prevent the deepest pockets from submitting a “highest plus one” bid that minimizes the proceeds from the sale.
This judge is either a dipshit or corrupt.
spankmonkey@lemmy.world 3 months ago
Is it though?