Jump to content



Photo

Microsoft seeking over $1 million from bankrupt THQ

thq microsoft gaming

  • Please log in to reply
11 replies to this topic

#1 vetJohn Callaham

John Callaham

    Neowinian

  • 666 posts
  • Joined: 29-April 11

Posted 26 April 2013 - 18:48

Microsoft seeking over $1 million from bankrupt THQ
by John Callaham



THQ went bankrupt several months ago and since then the once mighty game publisher has been selling off its various game properties to a number of different game publishers. However, the company has a long list of creditors that want THQ to pay back a total of over $200 million in debt.

Polygon reports that among the list of THQ's creditors is Microsoft, which claims that THQ owes it a total of over $1 million. Specially, Microsoft wants THQ to pay back $888,652 in financing fees and another $213,772 in licensing fees for third-party peripherals.

Microsoft will likely have to get in line as hundreds of companies and even individuals are wanting their share of THQ's remaining assets, with more being added to the proceedings every day. The single largest amount belongs to THQ Holdings Ltd. The UK-based group is seeking a whopping $39 million that it loaned to THQ.

It's unlikely that Microsoft and the rest of the companies wanting their money from the publisher will get the full amount. THQ has raised close to $80 million from the sales of its game IP to other publishers, but that's far short of what its creditors are asking for. The bankruptcy case is scheduled to end at the end of May.

Source: Polygon




#2 Kamran Mackey

Kamran Mackey

    Apple Fanatic

  • 202 posts
  • Joined: 30-September 12
  • Location: Canada
  • OS: Windows 8.1 Pro
  • Phone: iPhone 5

Posted 28 April 2013 - 02:56

Yeah and how are they supposed to get over $1 million from THQ when they are bankrupt? Like seriously.

#3 scorpian007

scorpian007

    Neowinian

  • 222 posts
  • Joined: 03-July 12
  • Location: Melbourne, Australia
  • OS: Windows 8.1 Pro x64
  • Phone: Nokia Lumia 930 Orange

Posted 28 April 2013 - 12:26

$1 million is pocket change for Microsoft, I don't know why they bother.

#4 corrosive23

corrosive23

    Neowinian

  • 1,196 posts
  • Joined: 01-February 02
  • Location: Tucson, AZ
  • OS: Windows 8.1 on Desktop, Xubuntu 13.10 on Laptop
  • Phone: Galaxy Note III

Posted 28 April 2013 - 14:27

If you dont go after companies that owe you money after they declare bankruptcy, what is there to prevent them from doing it any time they dont feel like paying you? Microsoft wants them to pay what is owed to them. THQ sold off IP of games and property and they owe money. If someone owed you hell even $1000 you would want that **** back.

#5 TheLegendOfMart

TheLegendOfMart

    Neowinian Senior

  • 9,281 posts
  • Joined: 01-October 01
  • Location: England

Posted 28 April 2013 - 14:39

Yeah and how are they supposed to get over $1 million from THQ when they are bankrupt? Like seriously.

Selling off assets and IP, any money they make goes to creditors of which Microsoft is one.

#6 Alladaskill17

Alladaskill17

    Neowinian Senior

  • 5,434 posts
  • Joined: 21-July 05

Posted 28 April 2013 - 15:52

Why does the title focus on Microsoft specifically? They're not even requesting the highest sum.

#7 corrosive23

corrosive23

    Neowinian

  • 1,196 posts
  • Joined: 01-February 02
  • Location: Tucson, AZ
  • OS: Windows 8.1 on Desktop, Xubuntu 13.10 on Laptop
  • Phone: Galaxy Note III

Posted 28 April 2013 - 21:00

Selling off assets and IP, any money they make goes to creditors of which Microsoft is one.


These two are 15 year olds, they dont know their ass from a hole in the ground. Why do we expect them to understand bankruptcy?

#8 George P

George P

    Neowinian Senior

  • 18,707 posts
  • Joined: 04-February 07
  • Location: Greece
  • OS: Windows 8.1 Pro 64bit
  • Phone: HTC Windows Phone 8X

Posted 28 April 2013 - 21:05

I dunno if they have any good IP left that they could use that MS might want, $1 million sounds like a good price for a successful IP.

#9 watchthisspace

watchthisspace

    Cheese Grator

  • 459 posts
  • Joined: 09-June 09
  • Location: 127.0.0.1
  • OS: Windows
  • Phone: iPhone

Posted 30 April 2013 - 07:11

Come on Microsoft, be nice and let them off on this one.

#10 Torolol

Torolol

  • 2,921 posts
  • Joined: 24-November 12

Posted 30 April 2013 - 07:42

so what the list THQ's IP assets that worh the purchase ?

#11 HawkMan

HawkMan

    Neowinian Senior

  • 21,471 posts
  • Joined: 31-August 04
  • Location: Norway
  • Phone: Noka Lumia 1020

Posted 30 April 2013 - 10:17

Yeah and how are they supposed to get over $1 million from THQ when they are bankrupt? Like seriously.


RTFA, they sold assets worth 80 million so far.

#12 Kamran Mackey

Kamran Mackey

    Apple Fanatic

  • 202 posts
  • Joined: 30-September 12
  • Location: Canada
  • OS: Windows 8.1 Pro
  • Phone: iPhone 5

Posted 01 May 2013 - 01:24

These two are 15 year olds, they dont know their ass from a hole in the ground. Why do we expect them to understand bankruptcy?


Well that is just ****ing rude. Say your sorry. You are not allowed to treat us like crap on Neowin.

Edited by Kamran Mackey, 01 May 2013 - 01:24.