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THQ Liquidation Approved, Finally Laid to Rest

by Ron Duwell | July 17, 2013July 17, 2013 6:00 am PST

THQ Logo

The former publisher THQ has finally been put to rest thanks to a judge approving its liquidation plan.

U.S. Bankruptcy Judge Mary F. Walrath of Wilmington, DE gave the green light to the plan which will pay a long list of creditors a piece of the $78.6 million THQ was able to raise selling off its franchises and other properties.

$72 million of the funds were raised selling off important franchises like Saints Row, Company of Heroes, and South Park. The remaining franchises were sold later in the spring with Darksiders headlining the final $6.6 million.

Overall, creditors were owed a debt of $248 million from before the bankruptcy declaration on December 19th, 2012, and THQ had $204.8 million in assets. Creditors are set to receive between 20%-50% of what they are owed on an individual basis.

European investors are still out to get their fair share of the bankruptcy bill, but with that aside, we can finally put a close on the chapter of this high profile bankruptcy. Now we’re wondering who will be next.

Bloomberg

Ron Duwell

Ron has been living it up in Japan for the last decade, and he has no intention of leaving this technical wonderland any time soon. When he's not...

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