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Wednesday, 17 July 2013 07:29

Final liquidation plan for THQ approved

Written by David Stellmack

This ends the bankruptcy case and publisher

THQ is the latest publisher to end as a footnote in the history of video gaming. The final liquidation plans for THQ were approved by a Delaware bankruptcy court, which brings the THQ bankruptcy case to a close.

The approved plan will see THQ creditors receive payment out of the monies collected from auction of THQ’s assets. The auction raised $72 million in total, with another $655 million coming from the remaining titles and publishing rights that were sold in April.

So, depending on the creditor’s claim, it is estimated that creditors could get between 20 and 52 percent of the amount they are owed. Still, these numbers are not fully decided; THQ’s European subsidiaries have submitted claims for $107 million and that would obviously lower the overall creditor payment amount if these claims from the European subsidiaries are allowed to stand.

While THQ has come to an end, at least some of its franchises will live on. The new title in the Metro franchise has already been released and the new Saint’s Row title is headed for release very soon. Of course, WWE 14 is on track as well. Other titles that THQ had in development and sold seem to also be making their way toward release, which gives us at least a solid indication that some of the key THQ franchises will survive.

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