On Monday, Nick Denton, the founder of Gawker, filed for personal bankruptcy, reports BuzzFeed News.
On Monday, Nick Denton, the founder of Gawker, filed for personal bankruptcy, reports BuzzFeed News.
The move was anticipated by a number of media outlets, as Denton’s previous attempts to block Hulk Hogan from collecting the roughly $140 million awarded to him in a sex-tape related lawsuit have failed.
According to the Wall Street Journal, "Mr. Denton filed for chapter 11 protection at the U.S. Bankruptcy Court in New York, which will automatically freeze any legal action against him..."
Denton was ordered to pay $10 million individually and $115 million as part of a group.
The amount owed by Gawker Media was set at $15 million, notes Politico.
The company submitted its bankruptcy filing back in June, and will be auctioned later this month.
