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Judge Rejects Sale of Infowars to The Onion (www.nytimes.com)

submitted 1 week ago by Aatube@kbin.melroy.org to c/technology@lemmy.world

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“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.

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[–] Aatube@kbin.melroy.org -3 points 1 week ago (1 children)

Common in bankruptcy as well?

[–] ricecake@sh.itjust.works 9 points 1 week ago (1 children)

No idea, and not entirely sure why it matters. If your goal is to sell an asset and maximize proceeds, it's a known and unsurprising strategy, particularly since it gives higher returns when there are few bidders.

[–] Aatube@kbin.melroy.org -2 points 6 days ago

I think it has quite a chance of mattering. There's two choices here: the judge is incomptetent/compromised, or there's a reason this makes sense within the bankruptcy context. I want to explore the latter first before I make any judgements.