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.

RSS
Follow by Email
Facebook
Facebook
Twitter
Visit Us
LinkedIn
Read More

Leave a Reply

Your email address will not be published.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