Hulk Hogan claims that Gawker Media made a secret $200000 loan to owner Nick Denton before the ex-wrestler’s lawsuit led the website to file for bankruptcy.
In a new filing,Hogan, whose genuine name is Terry Bollea, and states that Gawker made the “very unusual slip” on the brink of going into Chapter 11 last month.
Also Read: Peter Thiel's Lawyer Is Now Going After Gawker's Deadspin“During the week ending June 10,2016, at the same time that it was negotiating a DIP loan that has an effective interest rate near 30%, or either Debtor or one of its affiliates made a payment of $200000 in the form of a loan to the CEO for purposes of paying for personal bankruptcy counsel … The sole disclosure we found of this ‘loan’ was buried in a bullet point to an exhibit to Debtors’ motion for DIP financing. This loan was concealed from the Florida Court,” Hogan’s filing contends.
Hogan also doesn’t believe that Gawker’s current state of bankruptcy should prevent Denton from having to declare personal bankruptcy.
Also Read: Why Nick Denton Didn't indicate Up to Gawker's Bankruptcy HearingEarlier this year, the former wrestling star won a stunning $140 million verdict in a defamation suit against Gawker after it posted parts of a sex tape showing Hogan with a friends wife.
Silicon Valley billionaire Peter Thiel has admitted to funding a team of lawyers to find and serve “victims” of Gawker Media’s coverage to mount cases against the website.
Pamela Chelin contributed to this report. Related stories from TheWrap:John Cena Nails Audition for 'Hulk Hogan v Gawker' Miniseries on FX (Video)What's Next for Gawker – And Will Hulk Hogan Get His Money?Gawker Sues Hulk Hogan Amid Company's Bankruptcy Bi
Source: thewrap.com