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.

Like & Share E&P:
RSS
Follow by Email
Facebook
Facebook
Google+
https://www.editorandpublisher.com/news/gawkers-chief-restructuring-officer-says-there-are-55-potential-bidders/
LinkedIn
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *