> 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.
If Musk wants to pay even more money than The Onion and the Sandy Hook families, fine. The Sandy Hook families will get the money.
Though I don't know how you conduct a fair auction now that two key bidders' bids have been revealed.
> 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.
> but the trustee is playing games
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.
Doesn't matter, that's not what the judge had ordered. Trustees don't decide anything, the judge has the final say.
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Civil asset forfeiture is when law enforcement seizes property of someone suspected of a crime.
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.