Alex Jones Seeks Asset Liquidation in Bankruptcy Move Amid Sandy Hook Lawsuits

By Madz Dizon

Jun 08, 2024 07:30 AM EDT
InfoWars founder Alex Jones speaks to the media outside Waterbury Superior Court during his trial on September 21, 2022 in Waterbury, Connecticut.
(Photo : Joe Buglewicz/Getty Images)

Alex Jones, known for his controversial views, is now requesting court approval to change his personal bankruptcy reorganization to a liquidation. 

This would result in the sale of a significant portion of his assets in order to partially repay the $1.5 billion he owes to the families of the victims of the tragic Sandy Hook Elementary School shooting.

Alex Jones Files Bankruptcy Amid Sandy Hook Lawsuits

Jones along with his media company, Free Speech Systems, both filed for bankruptcy reorganization following the lawsuits brought against him by the Sandy Hook families. 

These lawsuits were a result of his continuous claims on his Infowars programs that the tragic shooting in Newtown, Connecticut in 2012, which claimed the lives of 20 first graders and six educators, was a hoax.

However, Jones and the Sandy Hook families have been unable to reach a consensus on how to settle the cases, AP reported. 

As a result, Jones took action by filing a motion on Wednesday in US Bankruptcy Court in Houston. He requested that the judge convert his personal case from a Chapter 11 reorganization to a Chapter 7 liquidation.

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Sandy Hook Families Reject Alex Jones' $55M Offer

Jones had requested the Sandy Hook families to consider a bankruptcy settlement that would have provided them with $55 million.  However, they unanimously declined the offer and put forth their own suggestion for selling his assets.

In a court filing submitted on Friday, the families have decided to change their course of action and will now support Jones in converting his case to a simple liquidation process.

Jones claims that the defamation judgments exceed the value of his assets by a significant margin, Reuters.

Although the liquidation will only generate a small portion of the funds owed to the families, they expressed their opposition to his suggestion because it would have allowed him to retain control over InfoWars and his wealth for an extended period, while also placing a limit on the overall amount he would contribute towards the defamation claims.

The court-supervised liquidation will enable the families to profit from prompt asset sales, while preserving their right to Jones' assets in case he amassed wealth later on.

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