Atari Bankruptcy Plan Wins Court Approval

Law360, New York (December 5, 2013, 6:14 PM EST) -- Video game icon Atari Inc. on Thursday received a bankruptcy court’s approval for its restructuring plan that allows it to exit Chapter 11 and keep its French parent in control of the company.

U.S. Bankruptcy Judge James M. Peck green-lighted the plan, under which Atari SA, its French parent, will provide $3.4 million. Unsecured creditors are slated to receive $1.7 million.

The plan won the support of the official committee of unsecured creditors, according to court documents.

The company behind “Asteroids,” “Pong” and “Backyard Sports” entered...
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