Lawyers for Gawker Media LLC say that founder and Chief Executive Nick Denton will join his media company in bankruptcy unless a judge steps in to block litigation from former professional wrestler Hulk Hogan and his billionaire backer, the Wall Street Journal reported today. Gawker’s lawyers said in court papers filed on Monday that the personal bankruptcy filing “would undoubtedly occur” if a judge rejects Gawker’s bid for an injunction that would halt legal action from Terry Bollea, the wrestler’s real name, as well as others who have sued the embattled publisher. William Holden, Gawker’s chief turnaround officer, said in sworn testimony that Denton has already hired bankruptcy lawyers using a $200,000 loan from the company. Bollea won a $140 million judgment against Gawker earlier this year that ultimately pushed the company into chapter 11. The invasion-of-privacy suit was tied to a tape of Bollea having sex, which Gawker published in 2012. Denton is jointly liable along with another former Gawker employee for $115 million of the judgment and is personally liable for another $10 million.
