According to a report by Bloomberg, former game publisher THQ’s liquidation plan has been approved by a Delaware court, ending its bankruptcy case. U.S. bankruptcy judge Mary F. Walrath approved the plan, in which THQ’s lengthy list of creditors receive payment from the liquidation of the former publisher’s assets.
Bloomberg also reports that THQ’s creditors will receive between 20 and 52 percent of the amount owed, depending on the amount claimed and other factors. Total claims are estimated to range from $143 million to $184 million. If the $107 million claim submitted by THQ’s European subsidiaries are allowed, the overall payout percentage to the creditors will be lowered.
After filing for bankruptcy in December 2012, THQ auctioned off its game franchises and studios in January for $72 million. Unsold properties were bundled into groups, and the majority of them were purchased by Nordic Games in April.