(Media News) Alex Jones Seeks Liquidation Amid Sandy Hook Lawsuits

Conspiracy theorist Alex Jones is asking a court to convert his personal bankruptcy reorganization to a liquidation, potentially leading to the sale of his assets to pay part of the $1.5 billion owed to Sandy Hook Elementary School shooting victims’ families. Jones and his media company, Free Speech Systems, filed for bankruptcy reorganization after losing defamation lawsuits for claiming the 2012 shooting was a hoax.

Unable to reach a resolution with the families, Jones filed a motion in U.S. Bankruptcy Court in Houston to switch from Chapter 11 reorganization to Chapter 7 liquidation. “Given that there is no reasonable prospect of a successful reorganization, remaining in chapter 11 would incur additional administrative expenses without concomitant benefit to the Debtor’s estate,” stated Jones’ filing.

The families are also seeking to convert Free Speech Systems’ case to liquidation. A hearing is set for June 14 to decide the cases’ fate. Liquidation could force Jones to sell most of his assets, including Infowars, but he could keep exempt personal belongings like his home. If the company’s case is withdrawn, efforts to collect damages would revert to state courts.

Jones has already started selling personal assets, including a $2.8 million Texas ranch. His financial statements show about $9 million in assets and $69,000 in monthly living expenses. Free Speech Systems reported $4 million in cash and $3.2 million in April revenue.

Jones warned his company faced imminent shutdown due to a government conspiracy but was allowed to continue operating until June 14. He suggested he could resume broadcasting even if Infowars is sold.

Jones’ previous reorganization plan offered $55 million to the families over ten years, which they rejected, demanding at least $85 million. The lawsuits resulted in verdicts for the families, who testified about harassment by Jones’ followers.