Professor Richard Squire was quoted in New York Daily News where he discusses the $31 million payout following Hulk Hogan’s invasion of privacy lawsuit against the gossip website Gawker.
The gossip website had filed for Chapter 11 bankruptcy last June, shortly after a Florida jury awarded the ex-professional wrestler a $140 million verdict in his invasion of privacy lawsuit.
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While $31 million is a dramatically reduced figure from the original judgment, Richard Squire, a professor at Fordham Law School specializing in corporate law and corporate bankruptcy, said opting for reduced payouts can be a safer bet for creditors in bankruptcy.
“He could get nothing later if an appeals court threw out the jury verdict,” he said.
