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Forums - Gaming - List of Midway's Creditors...

List of Bankrupt Midway's Creditors

February 13, 2009

Yesterday, GamePolitics and other outlets reported that financially-troubled Midway, publisher of the Mortal Kombat series, had filed for Chapter 11 bankruptcy protection.

Since that time GamePolitics has combed through federal court records for additional insights into Midway's status. We've learned, for example, that Midway claims $167,523,000 in assets versus $281,033,000 in liabilities.

Perhaps more interesting, however, is the list of Midway's top 30 creditors. Among these, Wells Fargo Bank has the most to lose. The troubled game publisher owes the bank an eye-popping $150,000,000 of unsecured loans.

Others holding sizeable Midway IOUs include the current owner of the company, its former CEO and a variety of game retailers and licensees:

  • Wells Fargo Bank - $150,000,000
  • Acquisition Holdings Subsidiary  - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
  • National Amusements, Inc. - $20,147,864
  • NBA Properties, Inc. - $17,294,849  (License/royalty settlement)
  • Tangible Media, Inc. - $8,675,954
  • Warner Bros. Interactive - $6,654,203
  • Artificial Mind & Movement - $2,000,000
  • Epic Games - $1,975,000 (License/Royalties)
  • Walmart - $1,576,035
  • Far Sight Technologies - $1,279,151
  • Best Buy - $1,114,036
  • Target - $934,156
  • Technicolor Video Services - $637,769
  • Toys R Us - $615,276
  • Ditan/Synergex Canada - $578,316
  • CBS Outernet - $314,600 
  • David Zucker - $300,000 (severance pay)
  • Multi Packaging Solutions - $287,036
  • A.A.F.E.S Headquarters - $276,314
  • Kmart - $218,497
  • Tigon Studios - $200,000(license/roy190,alties)
  • Hollywood Entertainment - $982,000
  • TNA Entertainment - $160,000 (license/royalties)
  • Professional Films, Inc. - $150,000
  • Synergex - Latin America - $149,027
  • Pioneer.JB Marketing - $133,353
  • Eclipse Advertising - $132,687
  • GameStop - $127,250
  • Sear, Roebuck - $125,495


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Holy...shite....what has Midway been doing? Are they programming crappy Mortal Kombat games on workstations made of gold and have sentient dinosaur clone secretaries? I mean fuck.



You can find me on facebook as Markus Van Rijn, if you friend me just mention you're from VGchartz and who you are here.

Man Midway is screwed, they owe like litteraly everybody.



I just checked with my lawyer and as it turns out Midway owes me 10 bucks. For their sucky Mortal Kombat 2 game on the PSN. I didn't remember that game sucking so bad when I was a kid.



You can find me on facebook as Markus Van Rijn, if you friend me just mention you're from VGchartz and who you are here.

Damn. and thanks for posting


..How would a Dinosaur clone be a goo secretary? /LOL



"Let justice be done though the heavens fall." - Jim Garrison

"Ask not your horse, if ye should ride into battle" - myself

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Holy Shit! O_o

I know they were suffering, but how the hell did they run up a bill that high?



Wow, how does a game publishing company manage to have $167.5 Million in ASSETS?  All the company cars are Rolls and they have a few private jets?



mmm good luck making back that much money in the next few years midway...



 

Epoch said:

Wow, how does a game publishing company manage to have $167.5 Million in ASSETS?  All the company cars are Rolls and they have a few private jets?

 

Could own buildings and real estate as well as IP and other shit. I guess even unsold games would count as an asset technically. Though it may have no real value since no one will buy it. 



BrainBoxLtd said:

Holy Shit! O_o

I know they were suffering, but how the hell did they run up a bill that high?

 

 Yeah.  How do they owe Best Buy over a million dollors?



"Let justice be done though the heavens fall." - Jim Garrison

"Ask not your horse, if ye should ride into battle" - myself