Liberated Brands, operator of Quicksilver, Billabong, and Volcom, is liquidating its more than 100 US retail locations following bankruptcy proceedings. The closures are attributed to the challenges posed by the fast fashion industry. However, the brands themselves will continue; Authentic Brands Group is transferring their licenses to a new operator to ensure ongoing production and distribution of apparel. This ensures the survival of these iconic surf and skate brands despite the retail closures.
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A bankruptcy judge recently blocked a proposed settlement in Alex Jones’ bankruptcy case, a decision that has sparked outrage and confusion amongst many. The settlement, intended to compensate the families of Sandy Hook victims for Jones’s defamatory statements, was deemed insufficient by the judge. This wasn’t a simple case of a judge arbitrarily rejecting a deal; rather, it appears the judge believed the current plan shortchanged the families.
The core issue revolves around the perceived inadequacy of the settlement offer in relation to the immense harm inflicted upon the Sandy Hook families. The judge’s intervention suggests a belief that the families deserve a significantly larger financial recompense, reflecting the gravity of the emotional and psychological damage caused by Jones’s actions.… Continue reading
First United American Companies, a firm linked to Alex Jones, has significantly increased its bid for Infowars to over $7 million, more than doubling its previous offer. This follows a voided auction where The Onion’s parent company, Global Tetrahedron, had initially won with a lower bid. The trustee overseeing Jones’ bankruptcy will now evaluate both the new offers from First United American and the expected renewed bid from Global Tetrahedron. The sale proceeds will primarily benefit the Sandy Hook families awarded damages in defamation lawsuits against Jones. The future of Infowars and the specifics of the sale process remain undetermined, pending court approval.
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A month before bankruptcy, the Oakland Diocese transferred $106 million to a previously inactive non-profit, the Oakland Parochial Fund, prompting accusations of asset protection. Attorneys for abuse survivors claim this maneuver shields funds that should compensate victims of clergy sex abuse. This transfer is part of a larger dispute over the Diocese’s proposed reorganization plan, which survivors argue undervalues their claims and obscures the Diocese’s true financial capacity. The Diocese maintains that the allegations are unsubstantiated and disputes the interpretation of the fund’s purpose and accessibility.
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X, owned by Elon Musk, is unprecedentedly intervening in the bankruptcy sale of Alex Jones’ Infowars, contesting the transfer of Jones’s X accounts. This action directly contradicts X’s terms of service prohibiting account sales and marks a departure from typical social media company practices. Legal experts note this is the first instance of a platform publicly challenging account ownership transfer in court, raising concerns about the platform’s future as a marketplace of ideas. The intervention, praised by Jones, may reflect Musk’s personal views and a strategic move to set a legal precedent.
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Following a bankruptcy auction, a federal judge is considering whether to approve the sale of Alex Jones’s Infowars to The Onion, despite a competing bid from a Jones-affiliated company claiming a higher cash offer. The judge will hold an evidentiary hearing to assess the bankruptcy trustee’s decision-making process, specifically regarding the selection of The Onion’s bid, which included a revenue-sharing agreement with Sandy Hook victims’ families. The hearing will determine whether the sale proceeds, intended to satisfy defamation judgments, will be approved, another auction held, or further hearings conducted. The Onion’s bid, while lower in cash, was deemed by the trustee to benefit creditors more, prompting the legal challenge.
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Alex Jones, facing the sale of his company Free Speech Systems, is suing the Sandy Hook parents and others involved in the sale, claiming the deal violates his rights. The lawsuit seeks to halt the sale to Global Tetrahedron, a parent company of *The Onion*, and demands the return of his assets, alleging impropriety in the bankruptcy proceedings. Jones’s complaint alleges the sale infringes on his free speech and misrepresents his ownership. His legal action is further complicated by the prior rulings against him and the involvement of the Texas Attorney General.
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A Texas bankruptcy judge ordered an evidentiary hearing to review the sale of Infowars to The Onion, citing concerns about the auction process’s transparency. Alex Jones, Infowars’ founder, claims the sale was rigged and that lawyers for X (formerly Twitter) are involved, a claim seemingly supported by Jones’s statements about Elon Musk’s involvement. Despite the judge’s concerns and The Onion’s assertion that they won the bid, Infowars’ website briefly returned online with Jones declaring victory. The hearing will determine the sale’s validity, with the outcome impacting both Jones’s future and the planned satirical relaunch of Infowars by The Onion.
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Spirit Airlines is facing a potential bankruptcy filing after Frontier Airlines dropped its bid to merge with the budget carrier. The news comes on the heels of a challenging year for Spirit, which has been struggling with declining revenue and operational issues.
The Department of Justice (DOJ) had blocked JetBlue’s attempt to acquire Spirit, arguing that the merger would harm competition and lead to higher airfares. This decision, coupled with Frontier’s withdrawal, has left Spirit with few options for survival.
Many people are voicing their opinions on the situation, with some expressing sadness for the employees who may lose their jobs, while others are relieved that the airline is facing its downfall.… Continue reading
TGI Fridays has filed for Chapter 11 bankruptcy protection, blaming the impact of the Covid-19 pandemic. The company intends to use the bankruptcy process to explore alternatives to ensure its long-term viability. The process will affect the parent company, which operates 39 restaurants, but not its franchisees. The company secured funding to allow all locations to continue operation while it navigates bankruptcy. The chain, which began in 1965, experienced significant financial struggles from the pandemic and never fully recovered.
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John Q. Hosedrinker 
Matt Underwood