A liquidation would mean Jones' assets would be sold off.
FILE - Conspiracy theorist Alex Jones takes the witness stand to testify at the Sandy Hook defamation damages trial at Connecticut Superior Court in Waterbury, Conn., Sept. 22, 2022.
“I think it’s very accurate to say Infowars is a sinking ship,” Jones said on his show Wednesday, later adding that it could be a matter of hours or days when he loses the company. Messages seeking comment ahead of Friday's hearing were left for bankruptcy lawyers for Jones and Free Speech Systems. Jones has about $9 million in personal assets, while his company has about $4 million in cash on hand, according to the most recent financial filings in court.
Jones and Free Speech Systems initially filed for bankruptcy reorganization protection that would have allowed him to run Infowars while paying the families with revenues from his show. But the two sides couldn't agree on a final plan, and Jones recently filed for permission to switch his personal bankruptcy from a reorganization to a liquidation.
If Free Speech Systems’ case is dismissed, the company could return to the same position it was in after the $1.5 billion was awarded in the lawsuits. Efforts to collect the damages would go back to the state courts in Texas and Connecticut. That could give Infowars an extended lifeline as collection efforts played out.
Infowars Sandy Hook Bankruptcy Liquidation Free Speech Systems Lawsuits Assets
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