1335 Alex Jones Files For Chapter 11 Bankruptcy In Texas (www.zerohedge.com) posted 113 days ago by ohpleaseuhhelpame 113 days ago by ohpleaseuhhelpame +1338 / -3 101 comments share 101 comments share save hide report block hide replies
I said that from the day they ruled against him. He will never pay a dime. Nor should he.
They did it to silence him and OTHERS
Yes to set the presedent to sue people into submission for excersising their free speech.
False, he even said that what eventually would happen is he'd be forced to operate the business where all profits (outside of business operations, payroll...) go by court order to these payements.
Essentially, all profits from infowars go to these "victims"
Edit: As several of you have pointed out, clever (and even basic) accounting practices can go around this, so perhaps they'll never see a dime. We'll see
You're no spelling bee champ either.
I am not a crook
Most of the big corporations take their revenue/profits and reinvest in capital goods or other things to lower their taxable profits.
Any tax lawyer worth their salt would know how to navigate the 33,000+ pages in the tax code.
So super male vitality will be on perpetual sale?
Can we cure the soyboys?
The goal of any private company is to have zero dollars at the end of the year.
Otherwise you're losing money to taxes for no reason.
This is why you see hilarious stuff like companies spending 300k on plastic chairs at the end of the year.
You have to buy useful things. Spending 300k just to waste 200k would save you some taxes, but also waste your profits. You'd be saving ~40k in taxes by wasting 200k, when you could have had an extra 160k after tax.
Wait wait wait, does paying out for live TV “BILL CLINTON IS A RAPIST” count as a business expense?
If he has say $500k profit looming can he just offer $500k for one live shout out that “1776 MUST COMMENCE AGAIN!!”
This is how debt based currency works
Saving is stupid! Take loans so you have a massa slave cause we print the money
All the profit would just go to a "3rd party employee" and Jones makes none. Wink wink
his salary isn't profit.
Correct, but if he tripled his salary right after the ruling, judge would likely step in.
The goal of every business is to make zero profit.
If you're not zero'ing out your checkbook at the end of the year you're losing money.
This only changes for public companies that are non-growth based and need to pay out dividends/etc to shareholders.
What if the business becomes unprofitable
Just make it a non-profit. LOL
Well they won’t get his house now.
Ch. 11 is business, not personal.
Does he own the house or does the business
Chap 11 is personal for high net worth individuals because Chap 13 has a debt limit.
Cant take a persons house in texas anyway
I see this as a win ironically He’ll get financial relief and clean the slate not paying his “debts” to those commie fucks
Bankruptcy won’t impact the judgment, but may allow him to “work around” it
Based bankruptcy? lol. We are slaves to a system that squashes the human spirit.
Trump also filed for bankruptcy several times. IMO it is shameful but it's not any worse then DACA fags who leverage the legal system to their advantage.
If you escaped, how can you help others and make generational changes to the system to free future humans from the default system of slavery?
I’d start by making fun of everyone who wildly exaggerates by calling debt “slavery”.
It's only slavery if you work to pay it back
That’s not slavery lol
It is when the lender invented the debt out of thin air and then charges you interest on it.
When does that happen?
Fractional reserve banking. They don't actually risk their own assets to lend. Banking license, like any other license, is permission to do something that would otherwise be illegal.
A. Yes things that require a license are generally illegal without one, and;
B. I started this convo by saying it’s not slavery to pay off debt so how TF are any of us slaves as a result of fractional reserve banking?
Slavery is being forced to work and having your freedom of movement taken away. You don’t have to work, you’re free to be a leech or just starve. And you can walk your ass to Mexico if you want.
Never heard of fractional reserve banking?
How is that “slavery” in any way? How does it apply to an individual person taking on debt?
Ten bucks says they won't approve it.
I'll bet you 900 billion bucks.
600 million trillion dollars were incinerated
To be clear, Chapter 11 is a business bankruptcy filing NOT a personal one.
Yeah, this seems to protect the 'business.'
When they come for AJ personally he can wait out the suits (IDK if there are statutes of limitations like there is for med malpractice) then go chapter 7 or 13.
Bankruptcy isn’t the golden ticket that everyone thinks it is. Chapter 11 is for the business. He will have to try and file a bankruptcy personally as well. There are two types chapter 7 and 13. He makes too much money to file chapter 7 which is the one that expunges dept. I haven’t looked at the limits in a while but they were down around the lower middle class income level which he certainly isn’t at. Chapter 13 means repayment plan which is where the court comes in and manages your finances for you. You can keep you house and car and a small amount of money but anything above living expense you make goes to pay off the debt. Chapter 13 also had debt limits last time I looked, and they didn’t extend to 1 billion dollars it was somewhere around 1/2 mil. So the net is he is going to have a very difficult time getting out of being totally financially screwed. In Texas they can’t lien your house for judgment but they can take any money he makes that goes into a bank anywhere anytime. So he won’t be able to pay the property tax an eventually lose his house.
Crazy what an obvious hit job this is, and I know people who were cheering it on. The MEDIA perused these families, not Alex.
Chapter 7 has no debt limit (but it's a liquidation.) Chap 13 does. That's why he had to file Chap 11. That's what rich people file.
The Alex Jones Fund or Foundation.
He is getting stronger...Realize the whole reason is for his 20+ year fight is FREE SPEECH can not be FREE unless the 1st amendment is adhered to. That is the fight and it's fun to watch.
The absurdity of the amounts was telling...
I really hope and pretty sure he has to have put a decent amount aside for him and his family, not in his name or a company name. A lot of cash and gold hopefully and no one with a judgement against him gets a dime. I am also asking my mom here publicly to stop pestering me about what I want for Christmas, I’m 34 and have everything that I want, so just buy me a few supplements from InfoWarsStore.com, thank you mom & dad.
I don't know but if the Government fined me a billion dollars i'd leave the country close the business and reopen in another country outside their jurisdiction. That judgement in an of itself is the very definition of cruel and unusual punishment an imo illegal.
Plenty of countries would host him that couldn’t give two fucks about America. Can house it all in Trusts and LLCs and just have a low paying job with “benefits”, no?
One judge already stated that he can't just move his money around and claim to be bankrupt, and that they know he isn't bankrupt... so I'm not sure that this is going to work out
I'm not a lawyer, but isn't part of bankruptcy that you have to sell off existing assets to pay off your debt?
Depends on what chapter you file and what type of debts you have.
Asshole judge is already gone well outside their boundaries.
But people are still in the early auspices that the law means something.
His liabilities are greater than his assets, and he has no path to paying off all his liabilities. That's the definition of bankruptcy.
He just had to dish out no telling how much money on bandwidth to stream a glorious spectacle to tens of millions of viewers. Coincidence that he files the next day?
This is a smart defensive move under the Bankruptcy Code.
For those who do not know: The difference between Ch7 and Ch11 is the former is a liquidation, while the latter is a reorganization of assets under a plan. Under Ch11, the business remains able to operate within strict parameters, but its assets and liabilities are restructured in such a way that the debt is paid by future profits, property sales, and garnishments. Under Ch7, all of your assets are liquidated to cash until the classes of creditors are paid. ie you "lose your shirt"
By filing Ch11, Alex can continue to run InfoWars (the entity in bankruptcy, not him) and has a maximum of 120 days from filing to propose a "plan." If the plan is accepted, it is heard in court and the bankruptcy judge will either confirm or reject it.
The Sandy Hook parents (multiple people, who will have to agree together on their actions, a tall order for an emotionally charged group to logically do) are secured creditors, ranking above all others, by virtue of the civil judgement. However, InfoWars has other creditors, in both secured and unsecured class. Those lesser ranked creditors can reject the plan too, and if they will surely never be paid, of course at least one will. Why will they not be paid?
Because under the Absolute Priority Rule of 11 USC § 1129(b)(2)(B)(ii), if any class of creditors votes against the plan of reorganization, the court may NOT confirm the plan if ANY class ranked less than the dissenting class receives any distribution of the debtor's estate pursuant to the plan. Essentially, it requires that debtors satisfy the claims of senior creditors in full before distributing to lower ranked creditors.
Alex has ensured this bankruptcy will be fought over for YEARS, because the secured creditor of “Sandy Hook parents et al.” must agree amongst themselves whether to reject or accept, and if they accept the plan, the “largest civil judgment in American history” will have to be paid before any other secured creditor or the unsecured class. Mortgages, loans, employee benefits, credit cards, etc will be tied up and left with nothing, and they will fight like hell because, as we all know, the Sandy Hook judgment was a sham meant to intimidate the public from speaking as freely as Jones dared to. And all while this is happening? Jones as debtor in possession (DIP) gets to continue doing business, his bankruptcy Trustee (appointed or chosen) will handle the dirty work with the lawyers, and he is protected by the automatic stay from further proceedings against his business. Further, before they get to him, they must get through his business, as it is the one asset that can pay the judgement.
To use analogy, he has just put a padlock on his purse with the only way the judgement can be paid fully (if at all) and said "now you have to pick the lock before you can open it, and it will take years." He has just built a house and opened up shop in Purgatory, but while he will have to stay there, it will keep him out of Hell. Bine lucrat Mr. Jones, bine lucrat…
This was to make a point. Speak out we will destroy you. But he said day one he would do this. He offered a settlement they said nope. I thought he was crazy for offering it.
Its not illegal to be a bad business man....
Ill just hire my friend/family and pay them a fucking exorbitant amount of money in salary.... if the business just breaks even ill be okay with that
They get nothing.
And they will be happy
He will pay a dollar for every day Jussie Smollett served of his prison sentence.
(Spoiler: 6 days.)
So he's not worth a billion dollars?
Chapter 11 doesn't discharge debts, it reorganizes them, resulting in payment to creditors over time under a plan to allow a business to continue functioning.
Alex Jones did nothing wrong.
I like AJ, and I agree with much of what he says... but he should keep his mouth shut about his conspiracy theories involving mass shootings without tangible proof that can be used in court. That's not only negligent it is very disrespectful.
He'll just go back to talking about aliens and demons, those are less likely to sue😂
Democrats can definitely sue.
The Sandy Hook families are going to file a bankruptcy adversary to make the debt non-dischargeable. The real question is whether it will be heard since the original case wasn't decided on the merits.
Well duh. If he was the King of Saudi Arabia he would still have to file bankruptcy after that screw job from the courts.
Bankruptcy means only 1 thing!!! Tomorrow info wars show will be epic!!! 😂
"fucked around and found out" has never been more appropriate.
Easy there Terminator
Hasta la vista, baby.
No you 👉
Put your money where your pussy is fuckboi