Reply to Sandy Hook Parents of Slain Children Sue Alex Jones for Defamation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So if he declared bankruptcy for purposes of protecting his money, can they somehow pierce the veil and make him pay up?
What if he hid it offshore?[/quote]

I’m pretty sure that’s not how bankruptcy works.  All his assets would be up for division to his creditors on a pro rata basis except for what he can shield through a homestead exemption or similar, or what the bankruptcy lawyers take (which is a lot). 
Piercing the veil is a different concept—if the award was against his company and they wanted his personal assets to pay it, they could do that through piercing the veil.  Is this award against him personally or the companies or both?  [/quote]

It depends who the lawsuit was against. If it was against Jones personally and all of the money is held by Alex Jones Corp. or whatever, then bankruptcy can present some real hurdles. If the lawsuit was against Jones and Jones Corp. both, then the plaintiffs are a creditor in whatever bankruptcy is filed. They might have to wait in line behind secured creditors and other with priority, but Jones and Jones Corp aren't simply entitled to keep all of the money. Even if the judgment is against Jones, the money is in the name of Jones Corp, and Jones Corp has filed bankruptcy, the plaintiffs should still be able to get at Jones' interest as a shareholder in Jones Corp. [/quote]

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