pissed off is an understatement mate... With all the money they are going to loose and how many contracts that the company has lost
does not come close to how many are actually pissed with the company right now
lawsuits will be all over THQ
You know what's completely outrageous about the attempt to STEAL the company? They aren't including foreign subsidiaries in the bankruptcy and those subsidiaries are sitting on millions in cash. Management arranged this scam bankruptcy to essentially give their pals the company for free. Sure they're paying 60 million for the company but its not all cash. For instance, they're giving bond holders 10 million in NEW BONDS with a 3% interest rate and that's supposed to be full payment for the 100 million in bonds that had a 5% interest rate. On top of that, part of what they're doing is taking over some liabilities and of course paying back Wells Fargo's secured loan. They're actually only paying 30 million in cash. When you look at the tens of millions in cash that the non-bankrupt subsidiaries are sitting on, the company is literally being stolen for almost zero dollars.