Gawker founder Nick Denton asks NY bankruptcy court to dismiss his Chapter 11 case
One would guess that the media is pretty much done with Nick Denton, otherwise this story might have gotten more press. But it appears that Denton, founder of Gawker, is looking to have his Chapter 11 bankruptcy dismissed.
The reason is that Denton has been able to reach a settlement with Hulk Hogan and no longer needs to have his filing go through to completion. In the end Hogan settled for $30 million, and with the sale of Gawker’s assets to Univision, the original lawsuit had its intended effect of driving Denton out of business.
At the time of the filing Denton listed his liabilities in the $100 to $500 million due to the $125 owned Hogan, as well as other liabilities including a $11 million loan. But Gawker was sold off at auction for $135 million.