Midway Games continued its liquidating Chapter 11 plan this past week. According to court reports, the company’s creditors’ committee agreed to settle claims against the company’s owner Summer Redstone.
The settlement will likely allow unsecured creditors to recover 25 percent of their loans. It will be reviewed for approval June 23. Midway Games developed a number of video games, including “Mortal Kombat.”
If your company is considering a Chapter 11 bankruptcy filing, contact the Birmingham Chapter 11 attorney Paula Greenway at (205) 324-4000.