Sandy Hook families have offered Alex Jones two choices to end his bankruptcy. Here’s the whole story.
End of Bankruptcy
Families of the victims of the Sandy Hook Elementary School shooting have put forward two suggestions to bring an end to conspiracy theorist Alex Jones’ bankruptcy.
Two Choices
The families proposed that Jones either pay creditors a minimum of $85 million over ten years or opt for an orderly liquidation of his assets.
Eleven Month Case
In court documents submitted on Wednesday, the Sandy Hook families and a committee of Jones’ creditors argued that the 11-month-long bankruptcy case should be resolved by February.
Can’t Pay, Won’t Pay
They presented these options due to what they perceived as Jones’s inability to present a viable exit from Chapter 11 while maintaining an opulent lifestyle costing up to $90,000 monthly.
$8.5 Million
The proposal, explained to the US Bankruptcy Court for the Southern District of Texas, outlines two choices for Jones. The first option is an organized liquidation of his assets. The second is a 10-year fixed-payment plan involving yearly distributions of at least $8.5 million.
$1.5 Billion
In return for adhering to the fixed-payment plan, creditors would agree to release their approximately $1.5 billion in state court judgment awards related to Jones’ false claims that the 2012 school shooting was a hoax.
Legal Options Open
Both options also consider preserving legal actions against third parties associated with Jones and his Infowars program.
Clear Path Out
“The time has come for Jones to choose whether he is willing to pay his creditors a reasonable portion of what they are owed or would prefer to remain embroiled in costly and time-consuming litigation for years to come,” stated the group. “Whatever alternative Jones chooses, the Creditors’ Plan provides a clear path out of the quagmire of these cases.”
Creditor Proposal
In a court filing on November 21, Jones’ legal team acknowledged being informed of an upcoming creditor plan proposal. They requested a status conference on November 27 to discuss the way forward.
Time to End
Jones’ attorneys emphasized the need to conclude the case and are working on submitting their own draft plan by mid-December.
No Comment
As of now, there has been no immediate response from Jones’ attorney to the recent proposal.
Not Dischargeable
The Sandy Hook families gained considerable leverage in the bankruptcy case when Bankruptcy Judge Christopher Lopez ruled last month that approximately $1.1 billion in defamation awards were not dischargeable. The judge concluded that these awards resulted from intentional and malicious conduct.
Filing for Bankruptcy
Jones filed for bankruptcy in December 2022, five months after the parent company of his Infowars show, Free Speech Systems LLC, sought Chapter 11 relief.
Conspiracy Theories
The unfolding developments underscore the complex legal proceedings surrounding Jones’ financial situation and the ongoing fallout from his promotion of conspiracy theories around the families of murdered children.
“Over and Over”
The news online led to an outcry, with one user commenting, “Not only were 26 lives taken by some maniac who should have never been able to touch a gun, wacko Jones made the lives of the decedent’s families living hell by claiming it never happened over and over and over.”
“Pay The Piper”
Another user commented, “Jones should not be eligible for bankruptcy relief. He should be forced by the courts to liquidate all of his assets, and all future assets should go to the victims’ families.” Another commenter stated simply, “Make the lying grifter pay the piper.”
The post Alex Jones Faces Decision – Pay Creditors or Face Prolonged Litigation first appeared on Wealthy Living.
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