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this post was submitted on 25 Nov 2024
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The consideration is to ensure that assets being sold toward the monetary judgement are not sold at an arbitrarily low value. He has the right to have the assets sold at a reasonable value to fulfill the monetary judgement.
Whether the consideration will go beyond that, is a different story. But that's the reason the system works this way.
If anything though, the court should be throwing the other bid out because it's affiliated with Jones. And I think that's what is going to happen honestly.
Not according to Legal Eagle. (thanks to justOnePersistentKbinPlease)
The court gave the trustee wide latitude in deciding how the auction ran, what the rules were and who would be chosen to 'win'.
AND on top of that. Alex Jonse's own shell company was outbid by the onion. So the onion's offering was a fair value. Because the onion was willing to pay more than Jones for Jones's own company.
That's not quite accurate.
The onion's bid was technically lower overall, but they made an agreement with some of the victims of Jones' harassment that would make them better off overall.
Essentially one group is legally owed 97% of the proceeds of the sale while everyone else gets what's left. The agreement was that instead of a 97:3 split, the smaller group gets a bigger payout and the larger group gets a cut of future ad revenue.
Everybody wins in this arrangement, except Alex Jones. So everyone wins.