THQ’s long drawn-out bankruptcy finally comes to an end — or does it?

THQ Logo

By on July 18, 2013 at 11:43 am

A U.S. Bankruptcy Judge has finally ruled on the THQ liquidation plan, which has been held up by a variety of creditors seeking $200 million.

These unsecured creditors, which include big names like Microsoft, Codemasters and Lucasfilm, have been informed they will now be receiving between 31.5 and 51.9 percent of what they are owed.

THQ claims that they have enough money in their European arms to pay out these debts, and hopefully some more left over to actually pay shareholders a little bit of their money as well.

However some of that may be in jeopardy, with SEGA rising out of the ocean to sue THQ’s corpse for a total of $941,000 USD over Company of Heroes 2 pre-orders that it claims arise from Steam pre-orders taken during THQ’s ownership of the title. That case is yet to be decided.

Source: Bloomberg via VG247

3 comments (Leave your own)
Artful-dodgeR

Wow, that’s actually quite a lot of debt paid back, I was expecting a few c/$ at most.

 

Hang on a sec, surely because it was owned by THQ at the time, before it was sold off .. they wouldn’t have a claim?

 

kinkykel:
Hang on a sec, surely because it was owned by THQ at the time, before it was sold off .. they wouldn’t have a claim?

Well all those people paid in full to THQ for a game that SEGA then had to fund and deliver… so yeah, I can see why SEGA would be mad.

 
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