10TACLE Studios has filed for insolvency according to a report on the German edition of the Wall Street Journal Website. According to GamesIndustry.biz: "It is believed that the EUR 6.2 million in funding the developer announced just last week fell through, causing the company to declare insolvency last night. Since then, the developer has seen its share price drop over 73 per cent on the Frankfurt stock exchange." They contacted 10TACLE for comment, but have not yet received a reply. There is a report on Gamasutra (thanks Mike Martinez) with a statement from 10TACLE London branch Blimey Games indicating this will not impact them: "Despite 10T’s unfortunate and recently announced insolvency, Blimey Games is in a very strong position. We have recently signed an unannounced major project for a top tier publisher which secures our continued growth, and our Ferrari title remains unaffected. Work will continue as normal at our studio."