Alex Jones Estate Liquidation Gets Sandy Hook Families’ Vote

stopthatgirl7@kbin.social to News@lemmy.world – 904 points – Alex Jones Estate Liquidation Gets Sandy Hook Families’ Vote
news.bloomberglaw.com

The families of Sandy Hook school shooting victims voted overwhelmingly in favor of a plan to wrap up Alex Jones’ bankruptcy proceedings by liquidating the right wing talk show host’s assets.

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Jones’ general unsecured creditors—comprised mostly of Sandy Hook families holding about $1.5 billion in defamation judgments against the famed conspiracy theorist—voted 100% in favor of a Chapter 11 plan that would methodically liquidate and redistribute his property and cash, while preserving potential legal actions against parties affiliated with Jones and his Infowars program.

I hope he dies penniless under a bridge somewhere, like the troll he is.

Once you reach a certain level of wealthy, you literally cannot die poor. Sadly this isn't the movie trading places. Billionaires don't go fully broke, they're always allowed to keep a certain level of wealth forever after

I agree with you. Just a note, though; Alex isn't a billionaire. Even the plaintiff's lawyers estimated his wealth at only "as much as $270M". It still makes me sad to realize how many people he grifted, defamed, and otherwise harmed to make that much money...

Well ya super rich people designed the entire legal system in the US specifically to protect themselves from ever have to face any real consequences for their crimes. You dont have to look much further than Donald J Trump to see how thats working.

We never brought them to the guillotines in the US.

So they think they can do whatever they want.

Europe still remembers, but they are slowly forgetting too.

Might be time for another culling.

Jones definitely isn't a billionaire. He owns a glorified YouTube Channel that sells supplements and brain pills. Hopefully he is toast.

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Funny thing is that his base really doesn't like losers.

Yeah but they would never blindly follow a loser. All these court cases and elections are just frauds and everyone knows that if you've been frauded you didn't really lose! 100% win rate confirmed, logical consistency achieved.

Yup, usually an African prince trying to hide his wealth ends up giving a sack of cash to homeless, temporarily embarrassed billionaires while he's on a date with a business mogul's knockoff's daughter.

The vote indicates the creditors’ preference over a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years.

Lmao this part cracks me up the most. He was like "how about instead of selling all my stuff, I give you pennies on the dollar of what I owe you for a few years and we call it good?"

He's been dealing with some of the dumbest fucks on the planet (his viewers/listeners) for so long he thinks ridiculous shit like that works on everyone

Would you like $100 million now or $55 million later?

He could have at least tripled the offer in order to get a real shot. I expect they're invested in his fall, however.

I think his rock bottom is to be the kept creature of some Russian oligarch.

The only upside with Alex Jones is the spawn of the “Knowledge Fight” podcast.

I RENOUNCE JESUS CHRIST -Alex Jones

Do it.

Tired of seeing these wingnuts get away with murder or just refuse to comply with court orders.

Unfortunately I think we have a ton more of that still to see

Sandy Hook families holding about $1.5 billion in defamation judgments [...] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

Literally pennies on the dollar.

His house in Austin, that he bought for a couple million dollars, he sold to his wife in 2022 for the grand total of ten dollars. They're going to claw that back from him for trying to hide it. And then they're going to force him to sell it because Texas bankruptcy law only keeps your house in a city or town safe from bankruptcy seizure if it's one acre or less. And the lot his house is on is 1.089 acres - such a shame!

Sandy Hook families holding about $1.5 billion in defamation judgments [...] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

What's the difference between 1.5 billion and 5.5 million? About 1.5 billion.

Or in this case, the difference between 1.5B and 55M.

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Sandy Hook families holding about $1.5 billion in defamation judgments [...] a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years

Why did you omit the part where they didn't accept that plan? Those ellipses did some heavy lifting.

It really is the best part, because he's trying to weasel out of it saying "if you want money I've got to keep the machine running to make more" but the families holding him accountable are setting his everything on fire telling him it was never about the money, and that's awesome. He was hoping greed would save his ass but here he is in the hands of people who want real justice - the dismantling of the very machine he used to do harm.

I wonder if his assets include infowars? Would be another nail in coffin of his hopes if the families gave it to the knowledge fight guys. Funny as fuck, too.

Assuming no one else comes in and finances a new platform for him. I'd be surprised if it doesn't happen.

Also there may be state specific differences, but the transfer of his assets to his wife only is called a "fraudulent conveyance" and is still able to be obtained to the debtors. Also it was a dick move and requires more lawyers.

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I don’t know what’s funnier; Alex Jones’s estate being liquidated to pay back the families of his victims, or Mike Lindell being forced to pay the $5 million “prize” he offered to disprove his election fraud lies, and then was sued because he refused to pay it after he was easily disproven.

God damn it’s a good week for honesty.

The Truth finally got its boots on and is kicking. Love to see it.

Bbbbbbb but, what about his freedom of speech!!!! I hope that he finds complete misery and hopelessness after the things he's done to those families.

He is free to say whatever he wants and the government can’t stop him.

He is also accountable to his victims if his actions cause them financial harm.

Freedom of speech remains intact.

Freedom of speech does not mean freedom to harass others.

Yep..need to highlight the differences between saying "we need to be aware that this could be a false flag operation by Democrats to condition American citizens to accept oppressive gun control" and "(specific) people took money from George Soros to fake having a child and fake having them die in a fake school shooting because they hate America and want to make everyone slaves. We used to kill people like that, people who did what (specific person) did" over and over on nationally accessible broadcasts. Roughly paraphrased AJ's stance there, but you get the point.

Every time someone asks me the difference between free speech and freeze-peach, I just point to this asshole.

You can't infringe on my right to free peaches its in the constipation

No, freeze peach. You still need to pay for them. But the price of the right to freeze peach is microwave peach.

And im proud to be an American where the peaches are free and I won't forget the trees that died and gave that right to me

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We should do this more. Liquidate bad wealthy people's assets and distribute it to those they have harmed.

Granted that hasn't happened here yet, but I hope it does.

Good, Break him, sell his company.

Dissolve the board of directors.

Sandy hook parents can choose what kind of acid to use.

This is like the best news day in ages.

(Sorry, I'm out of Rikers and need a refill. Two Rikers in an hour is just too many and I already used up the two I had.)

This dude has got to be hiding gold somewhere, now they just need to find out where.

I don't know, if I was him, I wouldn't trust gold considering all the gold scam ads Infowars runs.

Oof... Lemme tell yeh the people who believe in gold are very dedicated. The idea of a currency collapse where gold will retain it's value is sort of the hoarding food and toilet paper for an apocalypse move... But gold is just as subject to becoming very close to useless as anything else in situations of extreme scarcity. There are lots of tales of wartime famine where people wheel out and lose what would normally be considered valuable to trade for practically nothing. Other than that the market value of gold can dip just like anything else but people love the stuff by default it seems.

The value of gold can dip if someone digs the right hole in the right place. That alone is a reason not to trust it. I do like the preppers who think gold will be worth more than, say, chickens if society collapses.

Lol, Alex Jones trying to hold court in front of Rogan and Musk, "Gold? You actually trust that shit? Gold is the quickest way to lose money cuz anyone can sell anything for any amount and call it gold. I should know, I do it all the time!"

Same thing gonna happen to trump

We can only hope. If we're really good this year maybe Santa will bring us the same thing for another one of these disgusting wastes of oxygen like Tucker Carlson or MTG.

So I hear organs can usually fetch some good money... Just a random, totally unrelated thought I had.

Alex Jones is a raging alcoholic. Nobody's interested in those vodka marinaded organs. You can pick a random episode of the Knowledge Fight podcast and there's a damn near 50/50 chance the episode of Info Wars they're going to be tearing apart will culminate with a drunken, crying, screaming, Alex Jones temper tantrum.

For the past year or so there are some pretty telling signs of what is most likely cocaine added to the mix.

which is actively counteracting the damage done by alcoholism, the globalists WISH they had his super powered organs

Not to mention all the SUPER MAIL VITALITY BRAIN FARCE X pills filled with god knows what.

You say "vodka marinaded," I say "well-preserved!"

Also what's your bright spot today, buddy?

Hey even if we can only get ¢10 on the dollar for his organs it's still worth it

Can't wait for Knowledge Fight to cover this. Last episode largely involved AJ not being present in thebstudio due to "having to deal with some bankruptcy matters"

The episode before last*

Ah, didn't notice my podcast player having downloaded one today already.

I hope the "some sodomite sent me a bucket of poop"-drop returns soon. I don't really like the latest drops for new technocrats.

I for one like the "some places in Asia, where you get off the plane over there, folks, they karate chop you"

Awe c'mon. He was just speeching! Isn't speeching protected? Don't unfree his speech, why you hate liberdom and freedity?

This is Great... Unfortunately this is too little too late ...

He's already moved out every asset he owns from under his control to other sources. They've given this man too much time to make himself appear "Virtually" as pauper on paper. He'll go to prison before he ever gives them a cent.

That's what makes auditors so damn cool yet scary. They can trace that shit.

Forensic auditors are scary. However, given the caliber of people Alex Jones surrounds himself with, I have a sneaking suspicion it wouldn't be particularly difficult to untangle his finances (relatively speaking).

Like solving the incredible mystery of did my five-year-old nephew eat that chocolate chip cookie?

Even if they can trace it, can they take it? Let's say he puts his house in a trust and makes some family members the owner of the trust, that would no longer be his property, no?

They can still seize it, and hand out fines for the attempt to hide it too!

This article has the best breakdown I've ever read in a single source, but, from what I understand as a non-expert or even expert-adjacent, it doesn't work that way.

If you put things in a living trust and name others as the beneficiary and then file for bankruptcy, you still own those trusts. So they take the assets.

If you put your assets in an irrevocable trust around the time that you file for bankruptcy and the recipient gives you something in return, the courts take the something you got in return. If you get nothing in return, then the auditors say "this smells like bullshit" and then the courts go, "yup, that's definitely a coverup," and then they reverse the trust and give you an extra punishment. If you'd established that trust well before filing for bankruptcy, then you didn't have the money anyway, so nothing to take. But if the person who owns the trust is using the trust to financially support you, then the court will yoink the money before you spend it or they'll spank you after you've spent it.

If he puts it in a Swiss bank or caiman islands then they won’t release it for seizure or even admit it’s there. Everyone will know and he would likely be jailed for hiding it but once he got out it would be there still

Even if they can trace it, can they take it?

Yes.

Yeah, that's not as hopeless as you think. They can easily track what he did to obviously hide his assets in the time since the judgement and still seize them from the parties who now could face charges for accepting them.

Can the court do something to punish him if it looks like he's living in luxury despite not owning any assets?

He’ll go to prison before he ever gives them a cent

And he wont go to prison either

There’s a vote for this? Where do we register?

In bankruptcy cases, a proposal is usually put forth by the end of the process that describes a plan with respect to how the debtor's assets will be liquidated and the funds distributed to creditors. This plan is put to a vote before the creditors and if the creditors accept the plan, then the bankruptcy court will order that the debtor's assets be liquidated in the manner described. When that's all done, the bankruptcy trustee will distribute the proceeds according to the plan to the creditors. Any remaining debts are cancelled.

Why are remaining debts cancelled? They should liquidate all his assets and then take every single cent he makes for the rest of his life.

This is how bankruptcy works. When someone goes bankrupt then it is intended to give them a fresh start. Some debts, such as those incurred as a result of fraud, are not dischargeable.

But why grant him bankruptcy? Where I live, personal bankruptcy isn’t really a thing. You can’t just walk away from debt and get a fresh start as you please. There is a ‘debt sanitation’ procedure but any creditors have to agree to the procedure and you have to go through a period of at least 3 years in which any income above the social minimum will be garnished and used to pay your debts. After this period outstanding debt can be discharged but this is entirely up to the discretion of each individual creditor.

In this case, I do not see any reason why you would agree to that. Let him pay every cent he makes for the rest of his life.

Edit: thought this was a reply to the Trump case. Edited to apply to Jones

Bankruptcy is not "granted". It is a legal process and courts cannot decline to bankrupt a person. This is the law in the United States, and changing it would require an Act of Congress. Nobody has to "agree" to this. It is just as much a violation of the rule of law to unduly deprive Jones of the rights he has by law as it is to ignore the consequences of his actions prescribed by law. It doesn't matter what your opinion is of him or his actions; these are his rights. Anyone who has a crushing amount of debt that they can't pay off, due to no particular fault of their own other than bad financial management, can have their assets liquidated and those debts cancelled. Note that debts incurred by fraud or malicious intent, such as this large judgement, are still not eligible for cancellation in bankruptcy. The purpose of personal bankruptcy laws around the world is because it is recognised that citizens are more economically productive when they aren't forced to pay a crushing amount of debt for the rest of their lives. It isn't fair to them. Again, we're looking at laws that apply to everyone, so your opinion of Jones's case doesn't matter. It isn't about Jones.

Nobody "walks away" from debt. People get their assets liquidated, their properties sold off. and in many cases their lives upended by bankruptcy. Nobody will ever want to lend money to someone bankrupt. Since Jones declards personal bankruptcy then his business and assets will be sold to pay his creditors and he'll be left with maybe enough to live an average life working an actual job. At the same time, the law stipulates that he, like everyone else, still deserves a decent standard of living even despite his debts. This is not favouritism, this is the rule of law.

Consider the case where a person, after getting into a serious car accident, is hospitalised for two months. When they get out, now they could owe hundreds of thousands of dollars in hospital bills, could be severely behind on their mortgage, was out of work for two months so they might also owe thousands of dollars on their credit card, and may have even lost their job in the meantime. All those things are possible in the US, so you have to understand that bankruptcy is the last resort for this person. Otherwise, interest and late fees on tens or hundreds of thousands of dollars of debt will crush them for the rest of their lives, and we (Americans) as a society have decided that we don't want people in that position.

I also believe that student loans are not dischargeable in bankruptcy.

That's probably some Ronald Reagan bullshit. Let me go look it up.

Edit: It's not. Apparently it only started in 2005.

all of this, but maybe also have people constantly harassing him pushing a narrative about how none of it is actually happening, and that it never happened, and how he made everything up.

Well. Since it's for sandy Hook families, by going back and having kids killed.i guess :(

How does Alex Jones still have anything

The knowledge fight guys are going to need a new subject in a few years 🤔

A few months of them dunking on just how lame Owen Shroyer and Harrison Smith are would be glorious.

It'd be tough. They'd need to find another show that broadcasts as regularly as Jones does. They have made moves recently that seem to indicate they know Jones is done for and they're transitioning to monitoring various right wing shit heads instead as occasion arises.

He looks like he hasn’t had a bowel movement since the bush administration