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Posted

[size=6]Microsoft seeking over $1 million from bankrupt THQ[/size]
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

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Posted

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

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Posted

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

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Posted

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.
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Posted

[quote name='Kamran Mackey' timestamp='1367117783' post='595661748']
Yeah and how are they supposed to get over $1 million from THQ when they are bankrupt? Like seriously.
[/quote]
Selling off assets and IP, any money they make goes to creditors of which Microsoft is one.

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Posted

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

[quote name='TheLegendOfMart' timestamp='1367159960' post='595662186']
Selling off assets and IP, any money they make goes to creditors of which Microsoft is one.
[/quote]

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?

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Posted

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.

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Posted

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

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Posted

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

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Posted

[quote name='Kamran Mackey' timestamp='1367117783' post='595661748']
Yeah and how are they supposed to get over $1 million from THQ when they are bankrupt? Like seriously.
[/quote]

RTFA, they sold assets worth 80 million so far.

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Posted (edited)

[quote name='corrosive23' timestamp='1367182836' post='595662678']
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?
[/quote]

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

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