US Trustee And Creditors File Objections Against Sale Of THQ

THQ can't even get bankruptcy right.

Id rather they be bought as a whole too, what if someone buys a certain IP and ruins it. Dont be messing with my future purchase of Saints Row 4 or the 4th or whateverthe****theyllcallit.

I'd like me some Saints Row 4.

That noteholder objection reads like a damn financial thriller. THQ stands effectively accused of:

1. Keeping strategic bidders out of the PRE-bankruptcy sale process by marketing the company only as a whole AND only agreeing to transactions that would keep existing management entrenched in their current roles (a serious breach of fiduciary duty that happens far too often in the corporate world)

2. MANUFACTURING a liquidity crisis by

a. Revising financial projections to show higher cash requirements.

b. Deferring game release dates to hold off revenue (remember that!?)

c. Telling its foreign subsidies not to bring cash from foreign countries into the US.

3. "Pre-funding" future expenses (setting aside cash for expenses yet to occur), decreasing the amount of free cash available to pay back creditors (and lowering the overall purchase price of THQ).

4. Lying about the majority of unsecured creditors supporting the Clearlake plan.

5. Out of text