Atari Asks For More Time To Assemble Asset Sale

Law360, New York (May 10, 2013, 4:57 PM EDT) -- Atari Inc. on Thursday sought an extra 90 days to put together a Chapter 11 plan without the threat of rival plans being submitted, saying it needs more time to put together a sale of its well-known brands and intellectual property.

The “Asteroids” and “Pong” maker says it has contacted more than 150 potential buyers, 80 of whom have begun the due-diligence process. Atari, the U.S. branch of French firm Atari SA that is also going through bankruptcy proceedings in Europe, says the extension through Aug....
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