THQ's recently announced one-two punch of declaring Chapter 11 bankruptcy while arranging a sale to a "stalking horse bidder" for a Section 363 sale has hit a snag, as Gamasutra reports investors have raised objections to the plan. The complaint focuses on how this seems to protect THQ management jobs, but not their investments. The investors aren't the only ones with raised eyebrows over this, as Distressed Debt Investing notes the U.S. Trustee overseeing the THQ bankruptcy has also filed an objection to the proceedings, noting problems with the accelerated timing of asset sales and excessive fee/expense reimbursements.
All trademarks are properties of their respective owners.
News CGI copyright © 1999-2014 James "furn" Furness &
All rights reserved.
Chatbear v1.4.0/blue++: Page generated 22 December 2014, 19:29.