27 May

Free Market Wins!....Liquidality!

Midway Games has been in the process of bankruptcy for a while now, since their declaration in February of last year, to be precise. But progress has been made, as the company has just recently won court approval for asset liquidation last Friday by U.S. Bankruptcy Judge Kevin Gross. The company has already sold the majority of its assets to Warner Brothers Entertainment, with $34.7 million more made available to creditors, and $25 million going to unsecured noteholders out of the $155 million owed.