Alex Jones To Lose Ownership Of Infowars?

According to reports, Alex Jones moved to liquidate his personal assets to settle legal judgments with the relatives of Sandy Hook victims.

Jones filed for personal bankruptcy in December 2022 after the Sandy Hook families were awarded $1.5 billion in defamation lawsuits.

The families previously offered to settle the debt for $85 million paid over 10 years, the Associated Press reported last November.

“The families’ lawyers offered Jones two options: either liquidate his estate and give the proceeds to creditors, or pay them at least $8.5 million a year for 10 years — plus 50% of any income over $9 million per year,” the outlet noted.

Jones’ move to convert his bankruptcy into a Chapter 7 liquidation reportedly will end his ownership of Infowars. 

BREAKING: Alex Jones has agreed to sell his assets to pay off the Sandy Hook families. This means InfoWars and other things he owns will now be sold to the highest bidder

This has nothing to do with Sandy Hook, it’s all about punishing him for awakening the masses to what the… pic.twitter.com/P0xiDsBnhK

— George (@BehizyTweets) June 7, 2024

NBC News reports:

Jones believes that “there is no reasonable prospect of a successful reorganization” of his debts, most of which stem from $1.5 billion awarded in defamation lawsuits, his attorneys said in a court filing late on Thursday. A Chapter 7 liquidation would not allow Jones to escape paying the legal judgments, but it offers a streamlined procedure for selling his assets under the supervision of a court-appointed trustee.

Courts in Texas and Connecticut have ordered Jones to pay $1.5 billion to the relatives of 20 students and six staff members killed in the 2012 mass shooting at Sandy Hook Elementary School in Newtown, Connecticut.

Bankruptcy can be used to wipe out debts and legal judgments, but the judge overseeing Jones’ case ruled in October that most of the defamation verdicts cannot be legally discharged because they resulted from “willful and malicious injury” caused by Jones.

Jones said Tuesday on his Alex Jones Show that the Sandy Hook families were trying to shut down his broadcasts with “a made up kangaroo court debt.” A spokesman for the Sandy Hook families declined to comment on Thursday.

NEWS

Alex Jones agrees to liquidate his assets to pay Sandy Hook families, in move that would end his ownership of Infowarshttps://t.co/32gf2NLWPa pic.twitter.com/qBeJaKxDvq

— Yashar Ali (@yashar) June 7, 2024

“The seismic move paves the way for a future in which Jones no longer owns Infowars, the influential conspiracy empire he founded in the late 1990s,” CNN stated.

“Infowars never dies,” Owen Shroyer commented.

Infowars never dies.

— Owen Shroyer (@OwenShroyer1776) June 7, 2024

Per CNN:

The legal maneuver ultimately “means [Jones’] ownership in Free Speech Systems is going to get sold,” Avi Moshenberg, an attorney who represents some of the Sandy Hook families, told CNN on Thursday night, referencing the parent company of Infowars.

“Converting the case to Chapter 7 will hasten the end of these bankruptcies and facilitate the liquidation of Jones’s assets, which is the same reason we have moved to convert his company’s case to Chapter 7,” Chris Mattei, another attorney representing Sandy Hook families, told CNN.

Jones technically has not controlled the Infowars business for some time, given that Free Speech Systems has also filed for bankruptcy protection. The company’s business has, thus, been under the supervision of a court appointed restructuring officer.

A hearing is scheduled for next Friday to determine the fate of Free Speech Systems’ bankruptcy.

But regardless of what happens in that case, Thursday’s legal move sets the stage for a court-appointed trustee to liquidate Jones’ personal assets, which includes his stake in Infowars.

The liquidation of Jones’ assets does not mean that Infowars will cease to exist. Several outcomes are possible. The court-appointed trustee could sell the business to another owner, for instance.

This is a Guest Post from our friends over at 100 Percent Fed Up.

View the original article here.