Hulk Hogan to serve on Gawker creditor committee

News Hour:

Former professional wrestler Hulk Hogan, whose lawsuit against Gawker Media LLC precipitated its bankruptcy, will serve on the committee of unsecured creditors, according to a court filing, Reports Reuters.

The U.S. Trustee, a bankruptcy watchdog, appointed Hogan to the committee on Friday. Hogan won a $140 million judgment against Gawker in a lawsuit after the gossip website published an excerpt from a sex tape in which he appeared.

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Gawker filed for bankruptcy this month with a plan to sell itself to online publisher Ziff Davis LLC for $90 million, setting the floor for bids in a court-supervised auction scheduled to take place later this summer.

The committee makes sure value is maximized for creditors, and in this case will ensure the sale generates the biggest recovery possible, according to attorneys familiar with the case.

[Source: Reuters]

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Mridha Shihab Mahmud is a writer, content editor and photojournalist. He works as a staff reporter at News Hour. He is also involved in humanitarian works through a trust called Safety Assistance For Emergencies (SAFE). Mridha also works as film director. His passion is photography. He is the chief respondent person in Mymensingh Film & Photography Society. Besides professional attachment, he loves graphics designing, painting, digital art and social networking.
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