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Judge Rejects Sale of Infowars to The Onion (www.nytimes.com)

submitted 1 week ago by [email protected] to c/[email protected]

66 comments fedilink hide all child comments

“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

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[–] [email protected] 26 points 1 week ago (1 children)

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"

[–] [email protected] 10 points 1 week ago

Apparently Jones chose a sham for his trustee who decided how to run the auction

Edit: "sham" as in how Jones saw it. After receiving only 2 bids, Murray—the trustee—decided to only solicit best and final offers instead of following the original open auction procedure; the court didn't expect changing those rules, but the change was completely within the trustee's power. Though both bidders had no objections to the changed rules, the lost bidder and Jones did after the results came out and sued, and the court felt like Murray should've done something else (while clarifying that they felt Murray acted in good faith).