List of Bankrupt Midway's Creditors

February 13, 2009 -

Yesterday, GamePolitics and other outlets reported that financially-troubled Midway, publisher of the Mortal Kombat series, had filed for Chapter 11 bankruptcy protection.

Since that time GamePolitics has combed through federal court records for additional insights into Midway's status. We've learned, for example, that Midway claims $167,523,000 in assets versus $281,033,000 in liabilities.

Perhaps more interesting, however, is the list of Midway's top 30 creditors. Among these, Wells Fargo Bank has the most to lose. The troubled game publisher owes the bank an eye-popping $150,000,000 of unsecured loans.

Others holding sizeable Midway IOUs include the current owner of the company, its former CEO and a variety of game retailers and licensees:

  • Wells Fargo Bank - $150,000,000
  • Acquisition Holdings Subsidiary  - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
  • National Amusements, Inc. - $20,147,864
  • NBA Properties, Inc. - $17,294,849  (License/royalty settlement)
  • Tangible Media, Inc. - $8,675,954
  • Warner Bros. Interactive - $6,654,203
  • Artificial Mind & Movement - $2,000,000
  • Epic Games - $1,975,000 (License/Royalties)
  • Walmart - $1,576,035
  • Far Sight Technologies - $1,279,151
  • Best Buy - $1,114,036
  • Target - $934,156
  • Technicolor Video Services - $637,769
  • Toys R Us - $615,276
  • Ditan/Synergex Canada - $578,316
  • CBS Outernet - $314,600 
  • David Zucker - $300,000 (severance pay)
  • Multi Packaging Solutions - $287,036
  • A.A.F.E.S Headquarters - $276,314
  • Kmart - $218,497
  • Tigon Studios - $200,000(license/royalties)
  • Hollywood Entertainment - $190,982
  • TNA Entertainment - $160,000 (license/royalties)
  • Professional Films, Inc. - $150,000
  • Synergex - Latin America - $149,027
  • Pioneer.JB Marketing - $133,353
  • Eclipse Advertising - $132,687
  • GameStop - $127,250
  • Sear, Roebuck - $125,495

UPDATE: We've made Midway's Chapter 11 petition available for you. Get it here.


Comments

Re: List of Bankrupt Midway's Creditors

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Thank you informationn..

Jeep Kiralama hizmetleri için kiralik jeep sitesine, Digitürk kampanyalari, Digitürk Plus, İstanbul digitürk bayileri için digiturk sitesine girebilirsiniz. Digitürk kampanyalari için ise digitürk kampanyalari
sayfasına, günlük yayın akışı için ise digitürk yayın akışı sitesine girerek yayın akışını güncel olarak takip edebilirsiniz.
Araba Kiralama, Oto Kiralama ve araç kiralama hizmetlerini yapmak için, şöförlü araç kiralama veya şöförlü minibüs kiralama sayfalarına gidebilirsiniz. Bütçenize göre araç kiralama yapmak istiyorsanız, ekonomik araç kiralama, spor araç kiralama, lüks araç kiralama, panelvan araç kiralama ve
vip araç kiralama sayfalarına giderek kiralık araçlarınızı görebilirsiniz.
İstanbul genelinde parke sitesi olan bahçelievler parke ve istanbul parke sitesine bakarak, parke modellerini görebilirsiniz.
sanalika oyununu oynamak için sanalika oyna sayfasına gidebilirsiniz. Birbirinden güzel hileler için sanalika hileleri sayfasına, en yeni Metin2 Hileleri için ise
Metin2 Hileleri sayfalarına gidebilirsiniz. Hepsinin haricinde digitürk sitesine giderek, digitürk paketleri kısmına giderek digitürk üyelik paketlerini görebilirsiniz.
Bu kadar basit.. Degil..

Re: List of Bankrupt Midway's Creditors

İstanbul'da araba kiralamak için Oto Kiralama sitesinden Araç Kiralama yapabilirsiniz. Bununla beraber Vip Araç Kiralama ve Rent A Car işlerinizi Kiralık Oto sitesinden yapabilirsiniz. Digitürk ve Digitürk Yayın Akışı için Digiturk sitesine girebilirsiniz. Parke modelleri için İstanbul Parke sitesine girebilirsiniz. Kiralık Araçlar için ve diğer Kiralık Araçlar için web sitelerimize girebilirsiniz.......

Thank you informationn..

Jeep Kiralama hizmetleri için kiralik jeep sitesine, Digitürk kampanyalari, Digitürk Plus, İstanbul digitürk bayileri için digiturk sitesine girebilirsiniz. Digitürk kampanyalari için ise digitürk kampanyalari
sayfasına, günlük yayın akışı için ise digitürk yayın akışı sitesine girerek yayın akışını güncel olarak takip edebilirsiniz.
Araba Kiralama, Oto Kiralama ve araç kiralama hizmetlerini yapmak için, şöförlü araç kiralama veya şöförlü minibüs kiralama sayfalarına gidebilirsiniz. Bütçenize göre araç kiralama yapmak istiyorsanız, ekonomik araç kiralama, spor araç kiralama, lüks araç kiralama, panelvan araç kiralama ve
vip araç kiralama sayfalarına giderek kiralık araçlarınızı görebilirsiniz.
İstanbul genelinde parke sitesi olan bahçelievler parke ve istanbul parke sitesine bakarak, parke modellerini görebilirsiniz.
sanalika oyununu oynamak için sanalika oyna sayfasına gidebilirsiniz. Birbirinden güzel hileler için sanalika hileleri sayfasına, en yeni Metin2 Hileleri için ise
Metin2 Hileleri sayfalarına gidebilirsiniz. Hepsinin haricinde digitürk sitesine giderek, digitürk paketleri kısmına giderek digitürk üyelik paketlerini görebilirsiniz.
Bu kadar basit.. Degil..

Re: List of Bankrupt Midway's Creditors

This info is very important, especially Midway's Chapter 11 petition, Thanks a lot!------- jumpmanual and Mp3 rockets

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Re: List of Bankrupt Midway's Creditors

I really liked Midway, since I think they were one of the last companies that made pinball tables.  This story makes me want to go buy Mortal Kombat vs. DC out of pity.

Re: List of Bankrupt Midway's Creditors

Wow, highly detailed, this is why I love GP!

 


Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.


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Re: List of Bankrupt Midway's Creditors

This is sad.  Hopefully Tobias and Boon could make nice nice again and buy MK to start their own franchise...

Wall of Text Simulation- Insert coin to continue.

Wall of Text Simulation- Insert coin to continue.

Re: List of Bankrupt Midway's Creditors

For those who are wondering, I did some quick math and they've got about $220,237,850 bucks owed just in the above listings, meaning that there's -another- $60,795,150 in debt in addition to the above listings (which probably include more basic debts like rent, power bills, etc).

Yeah, big sucking chest wound of debt here.

Best keep your wits about you: The gears of life are always spinning, and ignorance eventually means you'll get caught in them.

Best keep your wits about you: The gears of life are always spinning, and ignorance eventually means you'll get caught in them.

Re: List of Bankrupt Midway's Creditors

i find it slightly sad that a single person (the former CEO) is among that list as owed money, when everything else is another business..

But that's just the usual "CEO making big bucks even if he isn't CEO anymore" situation pretty much every big company has.

Re: List of Bankrupt Midway's Creditors

Is midway going to start Midway bucks(similar to arnoldbucks see link http://www.youtube.com/watch?v=YVKMA--nt4I&eurl=http://www.reason.tv/rou...)

America has just became its own version of the Jerry Springer Show after a bizarre moment in Florida involving a carnival worker.

Re: List of Bankrupt Midway's Creditors

I wonder -- do they count the Intellectual Properties they own toward their assets? I mean, I'm sure they could sell Mortal Combat as a licence. It has a value. Is it an asset though?

Re: List of Bankrupt Midway's Creditors

As part of thier bankruptcy settlement they could try to sell it, but it's too little too late now. Those bills are HUGE, and an IP/license wont generate that much money. I doubt Mario would be worth enough to save these guys now.

Re: List of Bankrupt Midway's Creditors

Throw in Master Chief, and Lara Croft, Wolverine, and maybe Solid Snake, and you might come close :p

Re: List of Bankrupt Midway's Creditors

*rolling eyes* sounds like a line up for a future Smash Bros game.

Re: List of Bankrupt Midway's Creditors

 "Mortal Kombat versus EVERYTHING"

/b

Re: List of Bankrupt Midway's Creditors

LOL, if it saves midway, sure!

Re: List of Bankrupt Midway's Creditors

Wow...just wow.... and some folks wonder why the banks are falling apart....

Re: List of Bankrupt Midway's Creditors

no kidding. 150M to thier biggest creditor (unless i missed one)

The creditors should have pulled the plug a while ago.

Re: List of Bankrupt Midway's Creditors

Holy crap, no wonder they went bankrupt.

Re: List of Bankrupt Midway's Creditors

Honestly, the exact words popped into my head. I think this is a fantastic article and thanks to GP for getting the info compiled. I wanted everyone to back Midway as best as possible, but wow, that looks hopeless. Obviously these guys made bad decision after bad decision. Sadly, RIP Midway.

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Re: List of Bankrupt Midway's Creditors

This is really great stuff. Corllins University

Re: List of Bankrupt Midway's Creditors

What's with all the stores? Undelivered games? Shelf space charges?

 

 

Re: List of Bankrupt Midway's Creditors

No, probably buy backs and cost adjustments. When you've bought 20,000 copies of something, and the publisher drops the price, sometimes a sales contract will offer price protection.

How the bills got this high though... i dunno.

 
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