I’m pretty sure based on the structure of the deal between the Onion and the Connecticut families this basically guarantees that the families (and any other creditors I guess) take home less money. Given the amount of money that they’re owed from the Connecticut judgement those families are basically 95% of the beneficiaries of this sale, and the original deal with the Onion had them giving up a huge chunk of what they could be entitled to in order to make sure that the Texas families (who were victimized in the same way but weren’t part of the same suit and got a much lower reward from a Texas court) got $100,000 more than they would have under the next-best offer. So in order for this to end up being a gain the next-best bid would need to either be so high that giving up $1.5 billion wouldn’t be enough to exceed what the Texas families would get, or else it gives the other bidder the ability to cut their bid to basically nothing and in turn reduce the amount that the Connecticut families forgo and the amount the Texas families take home by however much they want.
This is all amateur analysis, but short of rejecting the Connecticut/Onion bid outright for some reason I don’t think there’s any way that this doesn’t put the families in a worse spot. Instead whoever is behind the FUAS bid (widely believed to be Jones’s allies) may get to decide how much to screw the families over.
Edit to fix some numbers. What’s $1,498.5 billion between friends?
I’m pretty sure based on the structure of the deal between the Onion and the Connecticut families this basically guarantees that the families (and any other creditors I guess) take home less money. Given the amount of money that they’re owed from the Connecticut judgement those families are basically 95% of the beneficiaries of this sale, and the original deal with the Onion had them giving up a huge chunk of what they could be entitled to in order to make sure that the Texas families (who were victimized in the same way but weren’t part of the same suit and got a much lower reward from a Texas court) got $100,000 more than they would have under the next-best offer. So in order for this to end up being a gain the next-best bid would need to either be so high that giving up $1.5 billion wouldn’t be enough to exceed what the Texas families would get, or else it gives the other bidder the ability to cut their bid to basically nothing and in turn reduce the amount that the Connecticut families forgo and the amount the Texas families take home by however much they want.
This is all amateur analysis, but short of rejecting the Connecticut/Onion bid outright for some reason I don’t think there’s any way that this doesn’t put the families in a worse spot. Instead whoever is behind the FUAS bid (widely believed to be Jones’s allies) may get to decide how much to screw the families over.
Edit to fix some numbers. What’s $1,498.5 billion between friends?