4 ms·
They go to the creditors including his primary sponsor. This is not a bad outcome it's the only correct legal outcome. What you are saying is we should allow
by ipaddr 2y ago
They go to the creditors including his primary sponsor. This is not a bad outcome it's the only correct legal outcome.
What you are saying is we should allow a creditor (of many) to sell an asset to whoever they choose at a lower market rate because it's the right political move in this one case. Why wouldn't those rules be applied in other cases.. you can sell any asset for a dollar to yourself and the bankrupt person will still be on the hook for the total debt minus a dollar. Letting a single creditor value assets below marketrate and direct a sale to someone they wanted would be a completely unfair process.
- redeux 2y agoThis isn’t about politics, it’s about justice. The only reason politics is even in the equation is because Jones has made his living as a political blatherskite.
- johnnyanmac 2y agoLaw is almost inherently poliical. Politics was in the equation the moment Jones decided to pretend a tragic school shooting was fake news.
- redeux 2y agoSo where is justice in this equation then?
- johnnyanmac 2y agoThe plantiffs getting compensated is the "justice". The courts ruled wrongdoing and the consequence is some sort of payout.
- redeux 2y agoThat’s a legal remedy not justice. Justice wouldn’t let Jones potentially buy back the company using money the siphoned off and hid from the court.
- johnnyanmac 2y agoI agree. I never said there weren't loopholes in the remedy. We'll see if they manage to close it off.
- pyrale 2y agoThat is not what happened, though. One group of creditors said they were willing to abandon some of their claims, which means other creditors would have gotten a larger share of the smaller bid, effectively making these other creditors better off.