Sandy Hook families propose $85M settlement for Alex Jones’ $1.5B legal debt
OAN’s James Meyers
8:50 AM – Tuesday, November 28, 2023
Sandy Hook families who won almost $1.5 billion in their legal battle against Infowars host Alex Jones for calling the 2012 Connecticut school shooting a hoax have offered to settle that debt for less money.
An offer was made last week in Jones’ personal bankruptcy case in Houston with the families asking for at least $85 million over 10 years.
In the legal filing, lawyers for the families said that they believed the proposal would be the right way to help resolve the reorganization cases of both Jones and his company, Free Speech Systems.
However, in the legal filing, lawyers accused Jones of not limiting his spending and “extravagant lifestyle,” failing to preserve the value of his holdings, failure to sell assets and inability to produce certain financial documents.
“Jones has failed in every way to serve as the fiduciary mandated by the Bankruptcy Code in exchange for the breathing spell he has enjoyed for almost a year. His time is up,” lawyers for the Sandy Hook families wrote.
Additionally, the attorneys of the families offered two options to Jones. The first option was to liquidate his estate and give the proceeds to creditors. The second option is to pay them at least $8.5 million a year for 10 years, plus 50% of any income over $9 million per year.
In response to the offer Jones’ personal bankruptcy lawyer said that the $85 million, 10-year settlement offer was too high and was not something Jones could realistically pay.
“There are no financials that will ever show that Mr. Jones ever made that … in 10 years,” she said.
Meanwhile, in a new bankruptcy plan filed on November 18th, Free Speech Systems said it could afford to pay creditors around $4 million a year, down from an estimate earlier this year of $7 million to $10 million annually.
The company also said it was expecting to make just over $19 million next year from selling merchandise Jones promotes on his various shows, while operating expenses including salaries would total about $14 million.
Bankruptcy Judge Christopher Lopez rejected Jones’ $1.5 million salary, claiming that a hearing needed to be held.
If the Infowars host doesn’t accept the offer, Lopez would determine how much Jones would have to pay the families.
After 20 children and six faculty members were killed by a gunman at Sandy Hook Elementary School in Newton, Connecticut, Jones said on his show that the Sandy Hook shooting never happened and was staged.
Currently, Jones is appealing the lawsuit, claiming he did not receive fair trials and that his speech was protected by the First Amendment.
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What accusations have the families’ lawyers made against Jones regarding his conduct during the bankruptcy proceedings?
E to repay the Sandy Hook families. The families’ lawyers argue that Jones has not fulfilled his obligations as a fiduciary during his bankruptcy proceedings.
The Sandy Hook families, who previously won a legal battle against Infowars host Alex Jones for defamation regarding the 2012 Connecticut school shooting, have made an offer to settle the debt owed by Jones. Last week, in Jones’ personal bankruptcy case in Houston, the families proposed a settlement of at least $85 million to be paid over a period of 10 years.
The families’ lawyers believe that this settlement proposal would be the most suitable way to resolve both Jones’ and his company, Free Speech Systems’, reorganization cases. However, they also accused Jones of reckless spending and failing to preserve the value of his assets. They claim that he has not sold any assets or produced necessary financial documents.
Lawyers for the Sandy Hook families stated that ”Jones has failed in every way to serve as the fiduciary mandated by the Bankruptcy Code in exchange for the breathing spell he has enjoyed for almost a year. His time is up.” This statement reflects their dissatisfaction with Jones’ conduct during the bankruptcy proceedings.
In response to the offer made by the families, Jones’ personal bankruptcy lawyer argued that the proposed settlement amount was too high and not something Jones could realistically pay. She stated that there are no financial records that support Jones’ ability to make such a payment over a 10-year period.
Meanwhile, Free Speech Systems, in a new bankruptcy plan filed on November 18th, stated that it could afford to pay creditors approximately $4 million per year. This is a decrease from the estimated $7 million to $10 million annually that was projected earlier this year. The company also revealed that it expects to generate around $19 million in revenue next year from the sale of merchandise promoted by Jones on his shows. However, the operating expenses, including salaries, are expected to total approximately $14 million.
Bankruptcy Judge Christopher Lopez rejected Jones’ proposed $1.5 million salary, stating that a hearing needed to be conducted to determine its legitimacy. If Jones does not accept the settlement offer from the Sandy Hook families, Judge Lopez will determine the appropriate amount for Jones to repay.
It remains to be seen whether Jones will accept the proposed settlement or if the court will decide on an alternate repayment amount. This ongoing legal battle highlights the importance of responsible financial management and adherence to fiduciary duties during bankruptcy proceedings, especially when dealing with compensation for personal damages caused by defamation.
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