On its face, this is good news. I strongly suspect Alex Jones is following his Orange God and declaring bankruptcy on his business to attempt to avoid paying any of his own money. I also suspect it won't work.
Now surely @
cubby will weigh in with
actual expert info, but until then, what we all know about bankruptcy is that you don't do it on a whim. Jones made an offer, it was called a lowball and refused, then he did this -- most likely because he believes a fair and honest damages finding will be more than he wants to pay. As we also all know, bankruptcy isn't an everything-proof shield. It means you give up control of everything in your business, and let someone the judge picks for you hand out what you have to the people they think deserve it the most, while you sit around and watch. If the only way to resolve the matter is to sell off all your worldly goods from under you, the bankruptcy overseer can do exactly that, while your complaints are directed to a brick wall.
Now, Jones claimed in court he was worth $50,000 and owes millions, to make this bankruptcy happen. I...think there's a good chance he's lying. Yes I know, lying in court documents is a fucking stupid idea. But considering there's been no findings of damages yet (the offer was made March 22) those liabilities shouldn't include those damages? I think?
I could be wrong, easily. Jones could be giving up and crying into his single scoop of ice cream, knowing for a fact he's lost and will pay out more than the 13x$120,000 that was already refused, with no realistic chance of appeal. I don't think that's how it works...but I'm not a lawyer.
If I'm right, that means he was already seven or eight figures in the hole. Yes, legal fees could do that, but then we get into "why would anyone defend Alex Jones for money he didn't have?" And of course, we've all heard of Infowars. We know it exists. That means he should be getting decent revenue. But he's claiming to have $0 to $50,000 in assets.
I have more than that, and I'm a
public school teacher.
And also, if I'm right, the question is then raised "why didn't he say something before?" Which is why I'm suspicious. If Jones was really digging his way out of a hole, saying "Your Honor I can't pay anything at all" should have been brought up at least November. He didn't, so either the bankruptcy is based on assumed heavy damage payments, or he's desperate and willing to take bankruptcy over the judgement, and lying to make that happen.
So let's talk about Alex Jones.
He's fucked.