NEW: A US bankruptcy-court trustee plans shut down conspiracy theorist Alex Jones's Infowars and liquidate its assets to help pay the $1.5 billion in judgments against Jones, he told the court in an emergency motion yesterday
So what the courts decided was that Jones could keep going ahead with chapter 7 bankruptcy for himself. InfoWars was not allowed to go forward with bankruptcy proceedings, which meant that in theory he would retain control of it but in practice it's now open season on it by their creditors.
What complicates it is that InfoWars is wholly owned by Jones, so the trustee in charge of THAT bankruptcy is now wanting to liquidate the company to pay creditors. The filing asks for the courts to hold off on letting the creditors seize the company's assets...
...so that the trustee can liquidate them in an orderly fashion, rather than the feeding frenzy that the creditors are otherwise about to start. Remains to be seen if this is another stalling tactic or a good faith action by said trustee.
It's also unclear if it would be faster for the company to be torn to pieces by the various creditors (mostly the families of Sandy Hook victims), or for the trustee to liquidate it. The former would likely be held up in a variety of court hearings, while in theory the second could be pretty quick.
Also, disclaimer, IANAL, I just read too much and took a couple of law classes in college for my in-department electives. Please don't take anything I say as gospel. >.<
It really isn't, unfortunately (or fortunately, I guess). I just follow the case pretty closely, albeit largely through Knowledge Fight and other folks with more experience covering Jones.
It doesn't help that A) the media is very bad about covering Jones in general, often trying to both sides thing like this article does at the end, and B) bankruptcy proceedings are incredibly complicated and arcane already, and even law reporters often get a lot of stuff wrong.
They've mostly just covered the big developments, like the decision the other week that ended the bankruptcy for Free Speech Systems (IF's parent company). Kind of surprised this one even made the news, tbh.
