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Bloomberg: Atari Wins Approval to Send Plan to Vote

November 01, 2013, 07:16 AM
Filed Under: Bankruptcy

Atari Inc., the bankrupt video-game maker, won court approval to seek creditors’ votes on its plan to exit bankruptcy protection as a going concern.

U.S. Bankruptcy Judge James M. Peck approved the company’s disclosure statement, an outline of the restructuring plan, finding that it contained adequate information for creditors to make an informed vote, according to court documents filed Oct. 29 in Manhattan. The company is scheduled to seek court approval of its reorganization plan at a Dec. 5 hearing.

The company sought bankruptcy protection in January intending to break away from French parent Atari SA (ATA), which hasn’t made a profit since 1999 and sought related relief from creditors under French law, the company has said.

To view the entire Bloomberg article, click here.







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