THQ creditors claim to be owed over $200 million
A growing list of creditors is seeking more than $200 million from bankrupt publisher THQ. Polygon reports that hundreds of individuals and companies have registered claims in THQ’s bankruptcy case, ranging from as little as $2.98 to $39 million from UK-based THQ Holdings Ltd.
Microsoft is seeking in excess of $1 million in licensing and financing fees, Codemasters is chasing $1 million in unpaid royalties and stock, while Double Fine claims to be owed $595,000 in royalties and money for PlayStation Plus promotions. Former THQ president Jason Rubin and ex-chief strategy officer Jason Kay are seeking $2 million and $2.1 million respectively, for unpaid salary and severance, plus breaches of employment agreement, while outstanding payments are also owed to Saints Row 4, Homefront 2 and Metro: Last Light developers.
No claims will be paid until the conclusion of THQ’s case next month, when the sale of its remaining IPs should also be finalised. Last week’s auctioning of properties including Darksiders, Red Faction and Homeworld is expected to bring in up to $7 million. Hit the link for a rundown of who owns THQ’s properties.
By Tom Ivan