The only reason the business is being auctioned is to pay down his debts to his creditors. The onion bid reduces his debt more because some of the creditors are reducing the IOU they got in addition to the cash from the onion.
The net effect is a greater reduction in the amount Jones owes by taking the onion bid even though there is less cash.
Jones could have avoided such an insane judgment by working in good faith with the courts, but this turd was wildly contemptuous throughout, leading to liability by default in the separate cases.
But it isn’t even a lower payment!
The only reason the business is being auctioned is to pay down his debts to his creditors. The onion bid reduces his debt more because some of the creditors are reducing the IOU they got in addition to the cash from the onion.
The net effect is a greater reduction in the amount Jones owes by taking the onion bid even though there is less cash.
Jones could have avoided such an insane judgment by working in good faith with the courts, but this turd was wildly contemptuous throughout, leading to liability by default in the separate cases.