Judge Mary F. Walrath has agreed the THQ’s liquidation plan, which was reported by Bloomberg. The plan is using the collected $72 million amount from the sale of studio Volition and game Metro: Last Light, at auction, this year. The amount will be paid partly to the creditors, though the amount is more.
The creditors, who were unsecured, will receive a percent between 31.5 and 51.9 of what they have owned. The THQ is encouraging the European units to pay off their debts and THQ will pay the shareholders if the debts are completed, with the money left over. But Europeans are against this and they are not around to settle the issue and the plan will take another two years to complete.