My impression from the article was, The Onion bid contained both a monetary sum, and partial debt relief. The total value then - the sum + the debt relief - was higher, and that’s how it won. So, it wasn’t just the victims’ backing weighing in, they actually put money on it.
You are correct. It’s just that because the details of the bids are sealed, it appears on the surface that the Onion bid was too low relative to the value of the asset and the competitive bid. The hearing is to clear that misconception up; The onion bid + incentives thrown in (debt relief + benefits to other creditors) actually brings the overall value of the bid to above the value of the competing bid, and possibly of Infowars itself. This means that not only is the Onion bid the actual winning bid, the bid is of greater financial benefit to not only the sandy hook families, but to Jones’ creditors and ultimately Jones himself.
This is normally routine, but given all of the players involved, it just opens the door to a lot of fuckery. Under normal circumstances, a hearing like this wouldn’t even be noteworthy, much less newsworthy.
My impression from the article was, The Onion bid contained both a monetary sum, and partial debt relief. The total value then - the sum + the debt relief - was higher, and that’s how it won. So, it wasn’t just the victims’ backing weighing in, they actually put money on it.
You are correct. It’s just that because the details of the bids are sealed, it appears on the surface that the Onion bid was too low relative to the value of the asset and the competitive bid. The hearing is to clear that misconception up; The onion bid + incentives thrown in (debt relief + benefits to other creditors) actually brings the overall value of the bid to above the value of the competing bid, and possibly of Infowars itself. This means that not only is the Onion bid the actual winning bid, the bid is of greater financial benefit to not only the sandy hook families, but to Jones’ creditors and ultimately Jones himself.
This is normally routine, but given all of the players involved, it just opens the door to a lot of fuckery. Under normal circumstances, a hearing like this wouldn’t even be noteworthy, much less newsworthy.