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In re THQ Inc., Case No. 12-13398 (MFW)
United States Bankruptcy Court, District of Delaware |
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News Release: THQ INC. to Receive $6.55 Million in Sale of Certain Intellectual Properties To Nordic Games, Gearbox Software, and 505 Games
AGOURA HILLS, Calif. – April 22, 2013– THQ Inc. (OTC: THQIQ) today announced that it has completed the bidding and sale process on certain of its intellectual properties (IP) with three buyers emerging to pay $6.55 million for the six available lots, subject to Bankruptcy Court approval. The company is filing its motions today with the Bankruptcy Court to obtain approval of these proposed sales. Read more
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Sale Information: On December 19, 2012, THQ Inc. along with its affiliated debtors and debtors in possession (collectively, the "Debtors"), filed the Motion of Debtors for Entry of (I) an Order Authorizing and Approving Bid Procedures in Connection with the Sale of Substantially All of the Debtors' Assets, (B) Authorizing and Approving Stalking Horse Protections, (C) Authorizing and Approving Procedures Related to the Assumption and Assignment of Executory Contracts and Unexpired Leases in Connection with the Sale, (D) Scheduling Auction and Sale Approval Hearing, (E) Approving the Form and Manner of the Notice of the Sale Hearing, and (F) Granting Certain Related Relief, and (II) an Order (A) Approving the Sale of Substantially All of the Debtors' Assets, (B) Authorizing the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases in Connection with the Sale, and (C) Granting Certain Related Relief.
On January, 11, 2013, the Court entered an order approving, among other things, the Bid Procedures and scheduling the Auction and Sale Hearing. Click here to view.
The Debtors conducted an auction on January 22, 2013 and January 23, 2013 for some or substantially all of the Debtors' assets. Auction results are available here.
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For shareholder inquiries, please contact Lisa Mueller at THQ Inc. Investor Relations at (818) 871-5125.
For media inquiries, please contact Rivian Bell or Sydney Isaacs at The Abernathy McGregor Group, Inc. at (213) 630-6550 or (310) 463-9229.
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General Information:
On December 19, 2012, the Debtors listed below (the "Debtors") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). The cases are jointly administered under Case No. 12-13398 (collectively, the "Bankruptcy Cases") before the Honorable Mary F. Walrath in the United States Bankruptcy Court for the District of Delaware.
| Debtor Name |
Debtor Case Number |
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| THQ Digital Studios Phoenix, Inc. |
12-13399 |
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| THQ Wireless, Inc. |
12-13400 |
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| Vigil Games, Inc. |
12-13402 |
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Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U.S.C. § 362, a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. If you believe that you might be a creditor of the Debtor(s) based upon debts arising prior to December 19, 2012 and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The staff of the Clerk of the Bankruptcy Court and the staff of KCC are not permitted to give legal advice.
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Important Dates, Deadlines & Documents: Some dates, deadlines and documents in the Debtors' Bankruptcy Cases that may be relevant to interested parties are set forth below: |
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| Bankruptcy Petition Date |
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December 19, 2012 |
| First Day Hearing |
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December 20, 2012
(3:00 p.m. ET) |
| Bid Procedures Hearing |
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January 4, 2013
(10:30 a.m. ET) |
| Sale Hearing |
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January 23, 2013
(9:30 a.m.) |
| Meeting of Creditors |
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January 28, 2013
(1:00 p.m. ET) |
| Deadline to File Proofs of Claim |
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April 8, 2013
(5:00 p.m. PT) |
| Omnibus Hearing |
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May 13, 2013
(11:30 a.m. ET) |
| Deadline to File Administrative Claims |
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May 10, 2013
(5:00 p.m. PT) |
| Notice of Hearing on Disclosure Statement |
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May 30, 2013
(10:30 a.m. ET) |
| Deadline for Governmental Units to File Proofs of Claim |
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June 17, 2013
(5:00 p.m. PT) |
| Omnibus Hearing |
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June 19, 2013
(10:30 a.m. ET) |
| Omnibus Hearing |
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July 16, 2013
(10:30 a.m. ET) |
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Meeting of Creditors: The meeting of creditors pursuant to section 341 of the Bankruptcy Code (the "341 Meeting") was held on January 28, 2013 at 1:00 p.m. (ET). |
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J. Caleb Boggs Federal Building
844 King Street, 5th Floor, Room 2112
Wilmington, DE 19801
Rule 9001(5) of the Federal Rules of Bankruptcy Procedure requires that a representative of the Debtors appear at the Meeting of Creditors for the purpose of being examined under oath by a representative of the Office of the United States Trustee and by any interested parties that attend the meeting. Creditors are welcome, but not required, to attend the meeting. The Meeting of Creditors may be continued or adjourned by notice at the meeting, without further written notice to creditors.
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Parties and Addresses: |
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United States Bankruptcy Court
District of Delaware
824 Market Street, 3rd Floor
Wilmington, DE 19801
T: 302-252-2900
http://www.deb.uscourts.gov |
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THQ Claims Processing Center
c/o KCC
2335 Alaska Avenue
El Segundo, CA 90245
T: 877-709-4751
Please file proof(s) of claim, if any, via US Mail or other hand delivery system. Facsimile and other electronic delivery methods are not acceptable. You must file an originally executed proof of claim. If you would like a copy of your claim returned to you as proof of receipt, please enclose an additional copy and a self-addressed postage-paid envelope.
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Counsel to the Debtors
Oscar Garza
Jeffrey C. Krause
Gibson, Dunn & Crutcher LLP
333 South Grand Avenue
Los Angeles, CA 90071-3197
T: 213-229-7000
F: 213-229-7520
http://www.gibsondunn.com |
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Counsel to the Debtors
Michael R. Nestor
M. Blake Cleary
Jaime Luton Chapman
Young Conaway Stargatt & Taylor, LLP
Rodney Square
1000 North King Street
Wilmington, DE 19801
T: 302-571-6600
F: 302-571-1253
http://www.youngconaway.com |
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Note:
KCC maintains this website at the direction of Gibson, Dunn & Crutcher LLP, Counsel to the Debtors. KCC maintains this website for the public's convenience and, while KCC makes every attempt to assure the accuracy of the information contained herein, this website is not the website of the United States Bankruptcy Court and does not contain the complete, official record of the Bankruptcy Court. All documents filed with the Court, including lists of the Debtors' assets and liabilities, are available for inspection at the Clerk of the Bankruptcy Court, District of Delaware.
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