Gawker Media LLC founder and Chief Executive Nick Denton appears to be headed for bankruptcy after a federal judge declined to shield him from a legal battle with former wrestler Hulk Hogan and his billionaire backer, MarketWatch.com reported yesterday. During a hearing in Manhattan, Bankruptcy Judge Stuart Bernstein denied Gawker’s request to extend chapter 11’s litigation shield to its founder, who isn’t currently in bankruptcy. “I expect my personal bankruptcy will be anything but straightforward,” Denton said in court Tuesday, adding that he expects the onslaught of litigation to continue “to be as aggressive as it possibly could.” The ruling is a blow to Denton, who says he can’t pay his share of a $140 million invasion-of-privacy judgment handed down earlier this year in favor of Terry Bollea, the wrestler’s real name. The judgment, which is being appealed, led Gawker to file for chapter 11 protection last month.
