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Creditors Come Knocking on THQ’s Doors

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With THQ going bankrupt, it was forced to sell all of its studios and assets, and many companies claimed lots of money from THQ.

Double Fine Productions has claimed a bit over half a million dollars from THQ, claiming that it did not give them profits for their games from PlayStation Plus.

Codemasters claims a bit over $1 million dollars  from THQ because of unpaid royalties and a valuable stock of games still in the warehouse.

The company also has to pay to Microsoft for financing and licensing fees for third-party peripherals, which add up to over a million dollars.

The toy company Mattel also seeks $12.75 million for unspecified reasons, and UFC parent company Zuffa claims 1.9 million for unpaid royalties for UFC games.

Former employee, Brian Farrell, claims a large amount  of $6.4 million due to his job termination being “without cause”, while Jason Rubin and Jason Kay both seek $2 million due to employment obligations. Both, Jason Rubin and Jason Kay, claim payments from breaches of duties, priority wages, vacation pay, severance pay and sick leave.

The single biggest amount THQ owes belongs to THQ Holdings Ltd. The UK-based company had loaned $39 million to THQ.

As claims are accepted, the chances of a full payment being given to any party, be it an employee or another company, are difficult as THQ has gathered a mere amount of $80 million by selling of game IPs and assets to other publishers, which will hardly be enough to make payments of over $200 million. The case will be settled at the end of May so no payments are expected until then. The full list of creditors can be found on the KCC website.

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