Creditors Blast Bankrupt Game Maker THQ's Sale Plan

Law360, Wilmington (January 2, 2013, 10:24 PM EST) -- Creditors of video game producer THQ Inc. asked a Delaware bankruptcy judge Wednesday to reject its bid procedures, arguing that the proposed terms for the Chapter 11 auction were crafted not to maximize value but to ensure a sale to stalking-horse bidder Clearlake Capital Group LP.

California-based THQ entered court protection Dec. 19 with a prepackaged plan envisioning a $60 million sale to private equity firm Clearlake, but an ad hoc committee of the company's noteholders claims the terms of the proposed Section 363 sale will...
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