Game Nearly Over As Midway Files Liquidation Plan

Law360, New York (February 24, 2010, 2:03 PM EST) -- Bankrupt video game maker Midway Games Inc. has filed a Chapter 11 liquidation plan that would see two classes of unsecured creditors take home a fraction of their claims, while a third group likely would be shut out entirely.

Midway filed its plan, which incorporates a settlement reached by two classes of unsecured creditors in October, on Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

According to the plan, Class 3A and Class 3B unsecured claim holders will be impaired and receive pro...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.