Lionel Hutz, author of the excellent lionelhutz substack, comes on the podcast to talk about the ongoing drama with Twitter and Elon Musk. In this episode, we exclusively discuss the Twitter case as it stands on October 13th, the odds the deal closes at the end of the month, why it might not, and what happens if it doesn’t. If you’re looking for more background on the deal, please see my podcast from May with Evan Tindell or August with Professor Ann Lipton and Compound248.

Lionel's Twitter: https://twitter.com/LionelHutz_Esq
May pod with Evan: https://twitter.com/AndrewRangeley/status/1529452942931238914?s=20&t=7yi3kr0wvPY0nduenfVdSA
August pod with Ann and Compound: https://twitter.com/AndrewRangeley/status/1556987816894255106?s=20&t=LEFlc2kvhXZ_M59UhEj6NQ

Chapters
0:00 Intro
2:30 Where we are today
6:55 Dismissing CFIUS and Bot Outs
9:20 Financing and Insolvency risks overview
14:10 How could the banks pull out of financing?
21:10 How would Elon's efforts over the next three weeks impact financing outs?
26:45 Are Elon's hands too dirty at this point to use a financing out?
29:10 How would an insolvency out play out?
30:55 Does section 5.9 suggest Elon *must* make Twitter solvent at close?
33:20 Judicial Estoppel / has Elon already repped TWTR is solvent?
39:30 Piercing the veil / getting Elon to pony up all the money
45:10 What does the trial process look like if Elon doesn't close now?
48:45 What arguments and discovery get made at trial if Elon tries a financing out?
52:15 What arguments and discovery get made if Elon tries an insolvency out?
56:40 Closing timeline and the Tesla blackout window theory
58:15 Would Elon's lawyers have supported the motion to stay if they weren't planning on closing?
1:01:50 Why does Elon seem so scared of getting deposed?