THQ Creditors Line Up With $200 Million in Claims

April 26, 2013 -

THQ's long list of creditors are seeking an estimated $200 million from the bankrupt publisher, according to a filing with the Bancrupcty Court of Delaware. Some of those creditors include Microsoft, who registered a claim with the court for $213,772 in licensing fees for third-party peripherals and $888,652 for financing fees; UFC parent company Zuffa, LLC for $1.9 million in unpaid royalty fees; Codemasters, who has asked for $1 million in unpaid royalties and stock on Dirt 3, Bodycount, F1 2011 and other titles; and Costume Quest and Stacking maker Double Fine Productions, who is seeking $595,000 in royalties related to the sale of the games and money owed for PlayStation Plus promotions.

Tattoo artist Christopher Escobedo claims he's owed $4.16 million as part of a copyright infringement suit filed last November over the inclusion of a tattoo he created that is permanently tattooed on the skin of UFC fighter Carlos Condit (who appeared in UFC Undisputed 3).

Former THQ executives Jason Rubin and Jason Kay are seeking $2 million and $2.1 million, respectively. Their claims stem from unpaid salary and severance and money related to a breach of employment agreement.

THQ subsidiaries in Europe, Asia and Australia are also seeking money a large chunk of change in the tens-of-millions for loans and interest.

The Entertainment Software Association is seeking the $190,424.75 for booth space reserved for E3 2013 and associated damages related to converting that space to a "lounge area."

LucasFilm is seeking royalties owed on mobile games Star Wars: Lightsaber Duel and Star Wars Arcade: Falcon Gunner.

If claims are paid, they won't be paid out until the end of May, according to a bankruptcy case counselor speaking to Polygon.

Source: Polygon


 
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