THQ Inc., the maker of “Saints Row” and “Company of Heroes” video-game franchises, won court approval of a revised, longer bankruptcy sale process and loan to help fund operations after reaching an agreement with creditors.
In the consumer electronics business, winning or losing a format fight often turns on how much red ink a company spills before shareholders -- or the threat of bankruptcy -- force one side to call it quits.
Midway Games Inc. , the creator of the “Mortal Kombat” video-game series, won court approval of its liquidation plan that provides a recovery for creditors from the sale of assets last year to a Time Warner Inc. unit.
Midway Games Inc .’s creditors’ committee agreed to take $1 million to settle remaining claims against owner Sumner Redstone and companies he controls. The settlement is set for approval in bankruptcy court on June 23.
Andy Roddick, the last American man to win a Grand Slam tennis title, will retire after the U.S. Open, the site of his only major championship and the place where as a kid he snuck in to see his heroes.
The bankruptcy judge put the Texas Rangers baseball club and its secured lenders under greater pressure to settle yesterday, signing an order compelling mediation over the reorganization plan and how much the lenders receive.
The U.S. Supreme Court held oral argument yesterday on a dispute arising from the long-completed reorganization of Johns Manville Corp. How the justices rule will determine whether the power of bankruptcy judges will be curtailed in blocking lawsuits against third parties not in bankruptcy.