Alex Jones’ bankruptcy liquidation approved in court

ALEXJONES-BANKRUPTCY/:Alex Jones' bankruptcy liquidation approved in court

Reuters
Published14 Jun 2024, 11:01 PM IST
Alex Jones' bankruptcy liquidation approved in court
Alex Jones’ bankruptcy liquidation approved in court

By Dietrich Knauth

NEW YORK, June 14 (Reuters) - A U.S. bankruptcy judge on Friday allowed conspiracy theorist Alex Jones to convert his bankruptcy case into a straightforward liquidation, saying he would quickly appoint an independent trustee to oversee the sale of Jones' remaining assets.

U.S. Bankruptcy Judge Christopher Lopez said at a court hearing in Houston, Texas that a Chapter 7 trustee should be put in place before resolving remaining disputes between Jones and his creditors, relatives of relatives of 20 students and six staff members killed in the 2012 mass shooting at Sandy Hook Elementary School in Newtown, Connecticut.

Lopez resisted some requests by the Sandy Hook families, who have sought control over Jones' social media accounts and the ability to choose the trustee who will be responsible for collecting assets from Jones to pay some of the $1.5 billion in defamation judgments that courts have awarded to the families.

"The thing to do is appoint an interim trustee and let that person get to work," Lopez said.

The families can vote on a permanent trustee in 30 days, and the interim trustee can weigh in on disputes in the meantime, Lopez said.

Lopez may rule later Friday on the fate of Jones' company Free Speech Systems, which operates the Infowars website and hosts Jones' radio show. Lopez is considering competing requests to dismiss Free Speech Systems from bankruptcy or convert its bankruptcy to a liquidation.

Jones filed bankruptcy protection 17 months ago, but he was unable to reach a settlement that would reduce the $1.5 billion he owes to the Sandy Hook families after courts in Connecticut and Texas ruled that he defamed them with repeated false statements about the massacre.

Jones claimed for years that the Sandy Hook killings were staged with actors as part of a government plot to seize Americans' guns. Jones has since acknowledged that the shooting occurred.

The judge overseeing Jones' bankruptcy has ruled that most of the debt will survive after a liquidation, because it resulted from "willful and malicious" conduct. (Reporting by Dietrich Knauth; Editing by David Gregorio)

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:14 Jun 2024, 11:01 PM IST
HomeNewsAlex Jones’ bankruptcy liquidation approved in court

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel

    157.75
    03:43 PM | 19 JUL 2024
    -8.6 (-5.17%)

    Tata Power

    414.15
    03:59 PM | 19 JUL 2024
    -15.85 (-3.69%)

    Bharat Electronics

    306.30
    03:45 PM | 19 JUL 2024
    -7.2 (-2.3%)

    Zee Entertainment Enterprises

    137.55
    03:57 PM | 19 JUL 2024
    -4.9 (-3.44%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Tata Teleservices Maharashtra

    102.11
    03:59 PM | 19 JUL 2024
    4.68 (4.8%)

    Rail Vikas Nigam

    614.00
    03:59 PM | 19 JUL 2024
    27.65 (4.72%)

    Jubilant Pharmova

    752.25
    03:43 PM | 19 JUL 2024
    25.3 (3.48%)

    One 97 Communications

    458.70
    03:55 PM | 19 JUL 2024
    13.65 (3.07%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      75,217.00292.00
      Chennai
      75,657.001,099.00
      Delhi
      74,485.00-659.00
      Kolkata
      74,485.00-73.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.75/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00
      OPEN IN APP
      HomeMarketsPremiumInstant LoanBudget