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/royalties)
Hollywood Entertainment - $190,982
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
http://www.gamepolitics.com/2009/02/13/list-bankrupt-midway039s-creditors