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BrikoX

The Onion’s bid to buy Infowars is rejected in court (www.motherjones.com)

submitted 2 weeks ago by [email protected] to c/legalnews

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[–] BrikoX 36 points 2 weeks ago* (last edited 2 weeks ago) (2 children)

The whole argument from the judge is baffling since he literally gave the full discretion to the trustee in his initial order to determine the process of the auction, and now the judge says that the same discretion was invalid.

If I were a betting person, I would say that politics of it all got involved in this case.

[–] [email protected] 19 points 2 weeks ago

Of course it did. The assets were supposed to be sold to a rich rightwinger.

[–] [email protected] 8 points 2 weeks ago

“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

The absolute best possible interpretation is that he's incompetent, because sealed bids are an entirely legitimate approach to maximizing return on a sale.