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Rumor: TimeGate Staff Laid Off

The entire staff at TimeGate Studios was laid off today, according to an unconfirmed report on Kotaku attributed to two sources. They say the troubled developer of Section 8 and co-developer of Aliens: Colonial Marines sent everyone home early, and their call to inquire about this was answered by receptionist who transferred them to voicemail. TimeGate recently lost over $7 million in a court case with SouthPeak Interactive over Section 8 and subsequently filed for Chapter 11 bankruptcy, and according to one of Kotaku's sources, SouthPeak won a court decision to convert this from Chapter 11 bankruptcy protection to Chapter 7 bankruptcy liquidation. Thanks nin.

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