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Silly Rabbit: US Trustee Objects to the Sale of THQ
Tags: THQ (18 posts) (all tags)
THQ's plans too focused on keeping the company together and operational.
With the doors of the various THQ studios still unchained, two loud voices presented their reasons for why THQ's current bankruptcy and subsequent stalking horse bid process are unacceptable.
According to Distressed Debt, US Trustee Roberta DeAngelis has filed an objection stating that the thirty day window of time available for potential bidders is too short and too private, and also that fees associated with competitive bidding and the breaking up of the company are too large to properly encourage bidding.
Meanwhile, several note holders of THQ's debt have raised an objection along the lines that THQ has too narrowly focused on investors that are likely to invest in THQ's future while ignoring the current accumulated debt.
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