Game Maker's Plans For Speedy Sale Snubbed By Judge

Law360, Wilmington (January 4, 2013, 9:44 PM EST) -- A Delaware bankruptcy judge on Friday rejected THQ Inc.'s accelerated sale schedule and the debtor-in-possession financing linked to it, finding the video game developer's previous marketing efforts had not been thorough enough to justify the truncated timeline.

THQ entered Chapter 11 last month with a prepackaged plan to sell the lion's share of its assets to Clearlake Capital Group LP for approximately $60 million. The game maker said the deal had to close by Jan. 15, when both its DIP financing and available cash would run...
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