Conspiracy theorist Alex Jones takes the witness stand to testify at the Sandy Hook defamation damages trial at Connecticut Superior Court in Waterbury, Conn., Sept. 22, 2022. Jones asked the court permission on Wednesday, June 5, 2024, to convert his personal bankruptcy reorganization to a liquidation. to a liquidation, which would lead to a sell-off of a large portion of his assets to help pay some of the $1.
But Jones and the Sandy Hook families have been unable to agree on how the resolve the cases, leading to Jones filing a motion Wednesday in U.S. Bankruptcy Court in Houston asking a judge to convert his personal case from a Chapter 11 reorganization to a Chapter 7 liquidation.“The Debtor does not anticipate that a resolution may be reached with the other parties in interest sufficient to confirm a chapter 11 plan of reorganization,” Jones’ filing said.
Liquidation could mean that Jones would have to sell most of what he owns, including his company and its assets, but could keep his home and other personal belongings that are exempt from bankruptcy liquidation. Proceeds would go to his creditors, including the Sandy Hook families.case is withdrawn, the company would return to the same position it was in after the $1.
But a liquidation of Jones’ and his company’s assets would raise only a fraction of what he owes the Sandy Hook families.According to the most recent financial statements filed in the bankruptcy court, Jones personally has about $9 million in assets, including his $2.6 million Austin-area home in Texas and other real estate. He listed his living expenses at about $69,000 for April alone, including about $16,500 for expenses on his home, including maintenance, housekeeping and insurance.
Last weekend, Jones warned on his show that his company faced an imminent shutdown because of what he called a conspiracy by the government and Democrats related to his bankruptcy cases. He urged his supporters to form a human chain around his Austin studio to prevent a takeover, and said he was sleeping in the studio to guard against a shutdown — which didn’t happen.