Creditors of bankrupt publisher THQ have won their fight to block the company’s sale to Clearwater Capital.
MCV reported earlier today that creditors were unhappy with the pre-pack agreement in place with Clearwater because it prevented other parties entering the bidding process and potentially robbed them of maximum returns.
Now Distressed Debt Investing reports that an auction for THQ’s assets will take place on January 22nd.
Parties have come to agreement: THQ auction now on Jan 22nd,” it said on Twitter. The auction will allow for piecemeal ("title by title") sales of THQ assets.”
DDI added: EA, a potential buyer of certain titles has completed site visits.”
That means that EA, Warner and Ubisoft have all been confirmed as interested parties.
Execs will no doubt be most interested in picking up THQ’s most successful IP, Saints Row, although others such as Homefront and Metro will also be possible targets for the right price.