Gawker's motion to stay Hogan's case against Nick Denton is denied.

CNBC BREAKING: Gawker founder Nick Denton says he will file for personal bankruptcy after judge denies lawsuit shield in Hulk Hogan case - DJ
 

Gawker Can't Shield Chief From Judgment

By Jonathan Randles

Law360, New York (July 19, 2016, 8:46 PM ET) -- Gawker Media chief Nick Denton will likely be forced to file for personal bankruptcy after a New York judge on Tuesday denied the company’s request to temporarily shield him from Hulk Hogan’s $140 million sex tape judgment.

U.S. Bankruptcy Judge Stuart Bernstein denied the company’s request for an injunction to protect Denton and former Gawker editor-in-chief, A.J. Daulerio, from the judgment handed down by a Florida jury until Sept. 3. Gawker attorneys said the injunction would allow Denton to focus on selling the company’s assets.

Gawker CEO Nick Denton testifies at TRO Hearing July 19, 2016. Judge Stuart Bernstein presiding. Attorney David Hennes questioning Denton. “As has been reported, the Silicon Valley billionaire Peter Thiel has been funding a series of lawsuits against the company intended to deter critical coverage,” Denton testified. “It’s been a drain on the company’s energy and financial resources.”

Attorney David Hennes questions Nick Denton during Gawker TRO hearing

Attorney Eric B. Fisher attorney for Mr Bollea cross examines Nick Denton CEO of Gawker during the TRO Bankruptcy hearing. July 19, 2016

Denton testified Tuesday that a personal bankruptcy could disrupt Gawker’s plan to sell itself in an August auction, in which he would play a role marketing the company. Lead bidder Ziff Davis has agreed to bid $90 million and keep Denton on if it wins the auction.
“I’m the founder of the company,” he said, when asked whether Gawker could survive without him. “I founded it out of my apartment and I know where all the bodies are buried.”
Artwork by Elizabeth Williams
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