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JoWooD Insolvent

Austrian videogame publisher JoWooD Entertainment AG announces their insolvency, saying they've applied for a procedure of capital reorganization at the Commercial Court Vienna (thanks The Patches Scrolls). Here's word:


Vienna, Austria, 7 January 2011; The management board of JoWooD Entertainment AG announces that all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed on 06/01/2011. On the basis of this fact, material insolvency occurred with this date.

Therefore today, JoWooD Entertainment AG applied for a procedure of capita lreorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute.

Bond creditors of the 10% bond 2007-2011 (ISIN: AT0000A05TV0) are asked to report directly to the company (see queries reference) to be able to coordinate their rights.

The management board assumes that negotiations with creditors and possible investors can be positively conducted and finalized within 90 days and thus continuation of the company can be assured.

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32 Replies. 2 pages. Viewing page 1.
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32. Re: JoWooD Insolvent Jan 10, 2011, 22:16 UConnBBall
 
Well since The Guild was never patched to fix a game ending bug I never bought another game from them period. I would have and my friend gave me silent storm but never a dollar. Heck you can still buy The Guild online and it still has the same game ending bug.

Bug = You have to complete a quest to further the profession (I think Potter) and to do the quest you had to send some materials to one city and the bug makes it so you can never send anything to the one city. Easy fix but never done.
 
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31. Re: JoWooD Insolvent Jan 8, 2011, 08:42 space captain
 
?? double posty

This comment was edited on Jan 8, 2011, 08:53.
 
Go forth, and kill!
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30. Re: JoWooD Insolvent Jan 8, 2011, 08:42 space captain
 
yuastnav wrote on Jan 8, 2011, 04:49:
just by fething things up so much.

wtf
 
Go forth, and kill!
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29. Re: JoWooD Insolvent Jan 8, 2011, 04:56 ShakaUVM
 
Kind of sad.

The JoWooD label made it a very simple decision to not buy a game.
 
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28. Re: JoWooD Insolvent Jan 8, 2011, 04:49 yuastnav
 
Good Riddance.

I hope this will be over soon. JoWood will certainly not be missed if that ends bad.
Kudos to them, though, for successfully killing games and even whole series' just by fething things up so much.
 
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27. Re: JoWooD Insolvent Jan 8, 2011, 01:22 Creston
 
Elf Shot The Food wrote on Jan 7, 2011, 19:38:
Karma's a bitch.

You probably don't even know what it means.

Yeah, thank God we have geniusses like you around to explain everything.

Creston
 
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26. Re: JoWooD Insolvent Jan 8, 2011, 00:33 eRe4s3r
 
Blimey! I shall receive punishment for confusing them both  
Avatar 54727
 
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25. Re: JoWooD Insolvent Jan 8, 2011, 00:23 space captain
 
eRe4s3r wrote on Jan 8, 2011, 00:16:
You can always play Arcania or Spellforce 2 if you feel sadistic (Spellforce 2 has the most game stopping bugs i have ever encountered)

you mean masochistic... get it right or i will crack the whip!!

im gonna take you to a leather club, you need education
 
Go forth, and kill!
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24. Re: JoWooD Insolvent Jan 8, 2011, 00:16 eRe4s3r
 
You can always play Arcania or Spellforce 2 if you feel sadistic (Spellforce 2 has the most game stopping bugs i have ever encountered)

These 2 games are likely why jowood is nogood financially.
 
Avatar 54727
 
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23. Re: JoWooD Insolvent Jan 8, 2011, 00:12 space captain
 
eRe4s3r wrote on Jan 7, 2011, 23:51:
Its standard when companies go insolvent - they are not bankrupt - most of the time, these companies slim down, change their business concept or do something along the lines of that to gain more investors and outside capital again.

Even if they go down without new money likely they are going to be sold proper - all rights to the highest bidder etc. It doesn't even have to mean the end of any of their game IP's.

but but but.. how will we get our sadistic jollies out of this now??

Crying
 
Go forth, and kill!
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22. Re: JoWooD Insolvent Jan 7, 2011, 23:51 eRe4s3r
 
Its standard when companies go insolvent - they are not bankrupt - most of the time, these companies slim down, change their business concept or do something along the lines of that to gain more investors and outside capital again.

Even if they go down without new money likely they are going to be sold proper - all rights to the highest bidder etc. It doesn't even have to mean the end of any of their game IP's.
 
Avatar 54727
 
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21. Re: JoWooD Insolvent Jan 7, 2011, 23:41 Acleacius
 
continuation of the company can be assured
Damn it, they are going to survive. Annoyed
 
The people can always be brought to the bidding of the leaders.That is easy.All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger.It works the same way in any country.
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20. Re: JoWooD Insolvent Jan 7, 2011, 21:26 Dirwulf
 
Prez wrote on Jan 7, 2011, 20:32:
I was surprised to see that they published Torchlight - I didn't know that.


They only published the BOXED edition in Europe.
 
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19. Re: JoWooD Insolvent Jan 7, 2011, 20:45 space captain
 
Elf Shot The Food wrote on Jan 7, 2011, 19:38:
You probably don't even know what it means.

its like a santa claus list!!!
 
Go forth, and kill!
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18. Re: JoWooD Insolvent Jan 7, 2011, 20:32 Prez
 
Most of JoWood's better games are on GOG, so all is not lost. I was surprised to see that they published Torchlight - I didn't know that.

http://en.wikipedia.org/wiki/JoWooD_Entertainment

But I have to say I am saddened by this. I really loved what they were trying to do with Spellforce even if it didn't work completely perfectly all the time. And I thought Aquanox was great - almost like an underwater Wing Commander.
 
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“The greatness of a nation and its moral progress can be judged by the way its animals are treated.”
- Mahatma Gandhi
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17. Re: JoWooD Insolvent Jan 7, 2011, 20:31 Fantaz
 
...didn't Derek Smart get Dreamcatcher (JoWood) guys to publish Universal Combat once? Seems like they may have wanted to forget that.  
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16. Re: JoWooD Insolvent Jan 7, 2011, 20:21 D_K_night
 
never heard of them  
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15. Re: JoWooD Insolvent Jan 7, 2011, 20:20 Lorcin
 
Honestly not sure if this is a good thing or not. Yes they released an awfull lot of buggy games before they were ready - but they never released Madden 47 or Streetfighter 17,965. On the whole I think their buggy rushed releases will be missed.  
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14. Re: JoWooD Insolvent Jan 7, 2011, 20:13 Cutter
 
Well, it's not like it's a surprise or they have anyone else to blame.
 
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"The South will boogie again!" - Disco Stu
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13. Re: JoWooD Insolvent Jan 7, 2011, 19:38 Elf Shot The Food
 
Karma's a bitch.

You probably don't even know what it means.
 
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32 Replies. 2 pages. Viewing page 1.
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