{"id":27886,"date":"2016-08-01T13:00:58","date_gmt":"2016-08-01T18:00:58","guid":{"rendered":"http:\/\/www.pwtorch.com\/site\/?p=27886"},"modified":"2016-08-01T13:44:15","modified_gmt":"2016-08-01T18:44:15","slug":"hogan-vs-gawker-aftermath-gawker-founder-files-personal-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.pwtorch.com\/site\/2016\/08\/01\/hogan-vs-gawker-aftermath-gawker-founder-files-personal-bankruptcy\/","title":{"rendered":"Hogan vs. Gawker Aftermath &#8211; Gawker founder files for personal bankruptcy"},"content":{"rendered":"<div id=\"pwtor-1290586290\" class=\"pwtor-before-content pwtor-entity-placement\"><hr \/><b>SPOTLIGHTED PODCAST ALERT (YOUR ARTICLE BEGINS A FEW INCHES DOWN)... <\/b>\r\n\r\n<iframe src=\"https:\/\/widget.spreaker.com\/player?show_id=3076978&theme=light&playlist=false&playlist-continuous=false&autoplay=false&live-autoplay=false&chapters-image=true&episode_image_position=right&hide-logo=false&hide-likes=false&hide-comments=false&hide-sharing=false&hide-download=true\" width=\"100%\" height=\"140px\" frameborder=\"0\"><\/iframe>\r\n<hr \/><\/div><p><span style=\"text-decoration: underline;\"><strong>Hulk Hogan vs. Gawker Aftermath &#8211; August 2016<\/strong><\/span><\/p>\n<p>&#8211; <strong>August 1 Update:<\/strong>\u00a0Gawker founder Nick Denton filed for personal bankruptcy on Monday after exhausting options to be shielded from bankruptcy, <a href=\"http:\/\/www.nydailynews.com\/news\/national\/judge-rules-gawker-founder-start-paying-hulk-hogan-article-1.2734159\" target=\"_blank\">reports the New York Daily News<\/a>.<\/p>\n<p>Denton, who is on the hook for $10 million of the $140 million judgment handed out against Gawker in Hulk Hogan&#8217;s lawsuit, broke down his assets and liabilities in Monday&#8217;s court filing.<\/p>\n<ul>\n<li>Assets: $10-50 million<\/li>\n<li>Liabilities: $100 to 500 million\n<ul>\n<li>Included: Debt to Hogan and $11.5 million loan taken out June 10<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Denton blamed the situation on Silicon Valley entrepreneur\u00a0Peter Thiel, who helped pay for\u00a0Hogan&#8217;s legal bill.<\/p>\n<p>Hogan&#8217;s attorney David Houston replied: &#8220;His bankruptcy has nothing to do with who paid Mr. Bollea&#8217;s legal bills and everything to do with Denton&#8217;s own choices and accountability. If even one person has been spared the humiliation that Mr. Bollea suffered, this is a victory.&#8221;<\/p>\n<p>Denton also predicted that Gawker will &#8220;thrive&#8221; under new ownership following bankruptcy auction proceedings in mid-August.<\/p>\n<p>***<\/p>\n<p>&#8211; <strong>July 29 Update:<\/strong>\u00a0After the original case of Hulk Hogan vs. Gawker was &#8220;reopened&#8221; in Florida court on Wednesday, a strict ruling was handed down on Friday.<\/p><div id=\"pwtor-2452263197\" class=\"pwtor-content pwtor-entity-placement\"><div align=\"center\" data-freestar-ad=\"__336x280 __336x280\" id=\"pwtorchcom_test_300x250\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"pwtorchcom_test_300x250\", slotId: \"pwtorchcom_test_300x250\" });\r\n  <\/script>\r\n<\/div><\/div>\n<p>Judge Pamela Campbell ruled that Hogan can begin trying to collect the jury award of $140 million ($10 million individually against Gawker founder Nick Denton), <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-07-29\/gawker-s-denton-can-t-stop-hulk-hogan-verdict-enforcement\" target=\"_blank\">reports Bloomberg<\/a>.<\/p>\n<p>Judge Campbell made her ruling based on feeling that Denton\/Gawker misled the court in June when she allowed the defendants to put up company shares as a &#8220;hold&#8221; until the appeals process played out.<\/p>\n<p>The next day, Gawker put itself up for Bankruptcy protection and a potential buyer emerged, which made Denton&#8217;s shares worth much less than what was presented to the court.<\/p>\n<p>Denton said in a statement that he felt the company did not mislead the court, which valued the shares based on Hulk Hogan&#8217;s attorney&#8217;s valuation.<\/p>\n<p>\u201cWe told the court they did not know what the company\u2019s shares would be worth,&#8221;\u00a0Denton said in a statement. \u201cThere was no misrepresentation.\u201d<\/p>\n<p>Barring a ruling at from the\u00a0Florida appeals court or New York bankruptcy court, Judge Campbell&#8217;s ruling will allow Hogan to seek collection as soon as this coming week.<\/p>\n<p>Meanwhile, Gawker goes up for auction in mid-August.<\/p>\n<div class=\"pwtor-end-article-groups pwtor-entity-placement\" id=\"pwtor-588011141\"><div id=\"pwtor-1520804979\"><div align=\"center\" data-freestar-ad=\"__336x280\" id=\"pwtorchcom_medrec_3\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"pwtorchcom_medrec_3\", slotId: \"pwtorchcom_medrec_3\" });\r\n  <\/script>\r\n<\/div>\r\n\r\nTHANK YOU FOR VISITING<\/div><\/div>","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Hulk Hogan vs. Gawker Aftermath &#8211; August 2016 &#8211; August 1 Update:\u00a0Gawker founder Nick Denton filed for personal bankruptcy on Monday after exhausting options to be shielded from bankruptcy, reports the New York Daily News. <a class=\"mh-excerpt-more\" href=\"https:\/\/www.pwtorch.com\/site\/2016\/08\/01\/hogan-vs-gawker-aftermath-gawker-founder-files-personal-bankruptcy\/\" title=\"Hogan vs. Gawker Aftermath &#8211; Gawker founder files for personal bankruptcy\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":1408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7],"tags":[523,362],"class_list":["post-27886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_etc","tag-gawker","tag-hulk-hogan"],"jetpack_featured_media_url":"https:\/\/www.pwtorch.com\/site\/wp-content\/uploads\/2015\/10\/HoganHulk_artTB_6001.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/27886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/comments?post=27886"}],"version-history":[{"count":1,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/27886\/revisions"}],"predecessor-version":[{"id":27887,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/posts\/27886\/revisions\/27887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media\/1408"}],"wp:attachment":[{"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/media?parent=27886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/categories?post=27886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pwtorch.com\/site\/wp-json\/wp\/v2\/tags?post=27886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}