Bloomberg is reporting that U.S. Bankruptcy Judge Mary F. Walrath has approved of THQ’s liquidation plan, which involves using the $72 million they made from the sale of their assets, like the studio Volition and game Metro: Last Light, at auction earlier this year to pay a portion of what they owe to creditors, which […]
The economic strain appears to be taking its toll on Atari. According to the L.A Times, the creators of Pong have filed a petition for bankruptcy.
The District of Delaware Bankruptcy Court has allowed Midway to continue to do business as it restructures under Chapter 11.“Approval of these motions is an important first step in this planned and orderly reorganization, enabling Midway to continue to operate as usual during this process,” said CEO Matt Booty.“We remain confident in Midway’s ability to […]
World of Goo publisher Brighter Minds Media has filed for Chapter 11 bankruptcy protection.The firm made the move on January 28. Unlike Chapter 7, which means the company’s to be liquidated, Chapter 11 is a step to allow the firm involved to remain in control of its assets while it reorganizes.Brighter Minds publishes a range […]
Shacknews sends word that Midway’s playing its trump card in its duel with fate’s cruel whims. Apparently, the beleaguered publisher was able to convince a portion of its investors to delay enacting their money-back guarantee – applicable because a large portion of Midway recently changed hands — until February 19. If Midway’s able to talk […]
A US court has given to go ahead for Ziff Davis, owner of 1UP and EGM, to commence with a bankruptcy restructuring plan designed to clear nearly $500 million in debt.“The Court’s confirmation of our Plan is a major milestone for Ziff Davis as we look to emerge from Chapter 11 restructuring,” said Jason Young, […]