Nick Denton was a no-show for today’s adversary proceeding in Gawker Media Group’s bankruptcy case on Wednesday in New York City.
His attorneys told Judge Stuart M. Bernstein that Denton wanted to remain at the office and work with his employees until it becomes necessary that he appears in court.
“Because the company is 190 employees and there is a lot of activity and obviously a lot of litigation going on, Mr. Nick Denton, who is the CEO… is not in the courtroom today,” Gawker attorney Gregg Galardi said.
Gawker Media filed for Chapter 11 bankruptcy last week, months after being hit with a $140 million verdict in the lawsuit brought against it by Hulk Hogan. Shortly after announcing Chapter 11 bankruptcy protection, Gawker entered into an asset purchase agreement to sell its seven media brands to Ziff Davis.
The judge has approved Gawker’s bankruptcy loan on an interim basis, with objections due by July 1 and the final hearing scheduled for July 7. Cerberus Capital Management has agreed to give Denton’s company a $22 million loan, with $14 million available immediately.
Hogan was not in the courtroom on Wednesday, either.
The parties agreed to a complete standstill of appeals regarding Hogan’s Florida litigation until a scheduled bankruptcy hearing in New York on July 13.