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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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1298289 No.1298289 [Reply] [Original]

now that gawker has filed for bankruptcy, how much money will Hogan actually make off of them?
would he possess the right to all of Gawker's current asset? or would he not get a cent? or maybe Gawker make partial payment to him (like 40 million) and give the rest to its own investors before closing.
i am quite interested in this developing story.

>> No.1298311

Learn the difference between chapter 7 and 11 dum dum.

>> No.1298330
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1298330

>>1298311
i am not american, please teach me

>> No.1298344

>>1298330

hey... that HUD is from F-Zero GX

>> No.1298546

>>1298289

Yeah I have wondered about this too, so I hope someone explains.

I THINK if a company has a judgement against them, but they file bankruptcy then they don't have to pay a dime.

>> No.1299260

In simple terms, the reason Gawker Media is filling for bankruptcy because atm they don't have enough revenue to pay off Hogan, the court and his lawyers so they are liquidating their assets and whatever else to get enough to do so.

>> No.1299448

>>1299260

But I thought bankruptcy cancells debts AND judgements?

>> No.1299659

>>1299448
Nope. But it can make receiving any sort of judgement extremely difficult because a bankruptcy judge has to approve it. I bet Thiel shit himself when Gawker filed. Gawker will come back as another entity with no debt and guess who they will then target?

Ha ha! Business!

>> No.1299888

>>1299448
>>1299659

Chapter 7 bankruptcy discharges most debts and judgements outright. Student loans tend to be the one exception. Very difficult to have student loans discharged. But under a chapter 7 bankruptcy, the judgement would likely be forgiven.

Gawker filed for Chapter 13 bankruptcy which essentially puts the company on a repayment plan that they can afford where they reorganize their finances and agree to make payments over the course of many months or years. The judgement will not be thrown out under this kind of bankruptcy.

>> No.1299985

makes me fucking furious that the judge ruled in Hogan's favour.

Hogan is a cheating slimeball but Gawker should be punished? they posted a video that was already online!

>> No.1300023
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1300023

>>1299985
>Gawker should be punished?
they ignored a court order and gloated about it.

>> No.1300028

>>1300023
So did OJ. He got off his meds and his hands swelled. If his hands did not fit they decided to acquit. Good lawyering.

>> No.1300037

>>1300028
I'm not sure what kind of argument that is supposed to be.

Gawker was sent a notice from court to take it down. The ridiculed the notice and said they won't take the video down. Which is against the law. Instead of fighting it they just said "fuck you we won't take the video down". This but them in the ass. I'm not a Hogan fan either but you have to respect laws even if you don't agree with them.