Alex Jones proposes $55 million legal debt settlement to Sandy Hook families

Conspiracy theorist Alex Jones' latest bankruptcy plan would pay Sandy Hook families a minimum total of $55 million over 10 years, a fraction of the nearly $1.5 billion awarded to the relatives in lawsuits against Jones for calling the 2012 Newtown school shooting a hoax.

The families, meanwhile, have filed their own proposal seeking to liquidate nearly all of Jones' assets, including his media company Free Speech Systems, and give the proceeds to them and other creditors.

The dueling plans, filed late Friday in U.S. Bankruptcy Court in Houston, will be debated and challenged over the next two months, with hearings scheduled for February that will result in a final order saying how much Jones will have to pay out.