Report: Aliens Colonial Marines co-developer files for bankruptcy protection

Aliens: Colonial Marines and Section 8 developer TimeGate Studios has filed a petition for Chapter 11 bankruptcy protection.

Polygon reports that site has obtained court documents stating as much about the Texas-based studio from the Texas Southern Bankruptcy Court filed earlier this week.

The petition, filed by TimeGate itself, lists less than 50 creditors owed money by the game developer and total liabilities ranging from $10m to $50m.

The developer’s top creditors include Epic Games, Agora Games, and DJ2 Entertainment, though everything down to a $35 bill at a local pizza place is mentioned in the filing.

Section 8 publisher SouthPeak may trump the rest, however. TimeGate owes an ‘unknown’ amount to the company in a claim, and faces $7.35m in damages and the loss of the Section 8 license as part of a fraud suit between the two parties.

The studio is currently working on upcoming PC shooter Minimum, while it’s most recent release Aliens: Colonial Marines (which it was a co-developer on) was just recently at the forefront of a class action lawsuit that asserted the game was falsely advertised.