A US judge has agreed that Midway Games plan to repay creditors with monies gained from selling assets to Warners can go ahead.
In July of 2009 Midway sold its Mortal Kombat and Wheelman properties, as well as Midway's Chicago and Seattle development studios to Warners for an estimated $33 million.
The plan for Midway was to use monies raised by the sale to pay creditors.
BusinessWeek reports that last week bankruptcy judge Kevin Gross in the USA " said he was 'satisfied fully' that the plan complies with the bankruptcy code before he approved it today at a hearing in Wilmington, Delaware."
In July of 2009 Midway sold its Mortal Kombat and Wheelman properties, as well as Midway's Chicago and Seattle development studios to Warners for an estimated $33 million.
The plan for Midway was to use monies raised by the sale to pay creditors.
BusinessWeek reports that last week bankruptcy judge Kevin Gross in the USA " said he was 'satisfied fully' that the plan complies with the bankruptcy code before he approved it today at a hearing in Wilmington, Delaware."
Companies:
Midway
Read More Like This
Comments
jrmiga 5 Apr 2011 16:44
1/2
What does this mean?
jrmiga 5 Apr 2011 16:54
2/2
Now what happens to Midway Games Inc.after the bankruptcy deal?