“TGP remains both balance sheet and cash flow solvent. There is no present financial distress, no looming foreclosure sale, no prospect of a market crash. There is only the State Court Litigation in which TGP must defend itself. That’s not a basis for bankruptcy relief; it’s the justice system in operation,” Mora wrote.

The Gateway Pundit declared bankruptcy on 24 April saying it was doing so as a litigation strategy in the defamation cases filed against it. Filing for bankruptcy pauses all civil proceedings against a business.