Midway Games Inches Closer To Ch. 11 Exit

Law360, New York (March 24, 2010, 1:33 PM EDT) -- Bankrupt video game maker Midway Games Inc. has scored court approval of its disclosure statement, paving the way for a vote on a Chapter 11 liquidation plan that incorporates an earlier settlement reached by two classes of unsecured creditors.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware signed off on the company's disclosure statement at a hearing Tuesday, saying it was in the best interest of the debtor's estates and creditors.

The voting deadline to approve the company's related reorganization plan...
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