Gawker won’t have to pay Hulk Hogan

Hulk Hogan is accusing Gawker owner, Nick Denton, of taking a pre-bankruptcy loan from his company and secretly declaring bankruptcy in a bid to avoid paying the $140 million judgment in Hogan’s sex-tape lawsuit, a report said.
The former pro-wrestling legend alleges in court papers that not only did Denton take out a $200,000 loan from his company, but also declared bankruptcy without telling Hogan or the court, according to The Hollywood Reporter.
Denton, meanwhile, offered to pledge his Gawker stock as security in exchange for staying execution of the judgment, The Hollywood Reporter said.
“Unknown to Mr. Bollea (Hogan) and the Florida court at that time, debtor had already signed its bankruptcy petition and voted to sell the assets,” Hogan’s brief says. “Judgment debtors never advised the Florida court that the bankruptcy filing was imminent.”
Hogan is attempting to collect on the judgment from a blockbuster verdict in March over Gawker’s posting of a sex tape that damaged his reputation.