Gawker’s Chief Restructuring Officer Says There Are 55 Potential Bidders

If a bankruptcy judge won’t hold back Hulk Hogan, Gawker founder Nick Denton will likely have to declare personal bankruptcy. And so on Monday, Gawker’s attorneys told a bankruptcy court of the crucial role that founder Nick Denton is playing in selling the company and urged a judge to enjoin Hogan’s collection efforts.

Gawker declared Chapter 11 on June 10, after experiencing a $140.1 million final judgment in the Hulk Hogan sex-tape lawsuit. That day, Gawker brought an adversary proceeding against its legal foes and also announced it had come to a $100 million asset purchase agreement whereby Ziff Davis would be the stalking horse bidder to acquire Gawker’s assets.

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