List of Bankrupt Midway's Creditors

February 13, 2009

Yesterday, GamePolitics and other outlets reported that financially-troubled Midway, publisher of the Mortal Kombat series, had filed for Chapter 11 bankruptcy protection.

Since that time GamePolitics has combed through federal court records for additional insights into Midway's status. We've learned, for example, that Midway claims $167,523,000 in assets versus $281,033,000 in liabilities.

Perhaps more interesting, however, is the list of Midway's top 30 creditors. Among these, Wells Fargo Bank has the most to lose. The troubled game publisher owes the bank an eye-popping $150,000,000 of unsecured loans.

Others holding sizeable Midway IOUs include the current owner of the company, its former CEO and a variety of game retailers and licensees:

Wells Fargo Bank - $150,000,000
Acquisition Holdings Subsidiary - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
National Amusements, Inc. - $20,147,864
NBA Properties, Inc. - $17,294,849 (License/royalty settlement)
Tangible Media, Inc. - $8,675,954
Warner Bros. Interactive - $6,654,203
Artificial Mind & Movement - $2,000,000
Epic Games - $1,975,000 (License/Royalties)
Walmart - $1,576,035
Far Sight Technologies - $1,279,151
Best Buy - $1,114,036
Target - $934,156
Technicolor Video Services - $637,769
Toys R Us - $615,276
Ditan/Synergex Canada - $578,316
CBS Outernet - $314,600
David Zucker - $300,000 (severance pay)
Multi Packaging Solutions - $287,036
A.A.F.E.S Headquarters - $276,314
Kmart - $218,497
Tigon Studios - $200,000(license/royalties)
Hollywood Entertainment - $190,982
TNA Entertainment - $160,000 (license/royalties)
Professional Films, Inc. - $150,000
Synergex - Latin America - $149,027
Pioneer.JB Marketing - $133,353
Eclipse Advertising - $132,687
GameStop - $127,250
Sear, Roebuck - $125,495

UPDATE: We've made Midway's Chapter 11 petition available for you. Get it here.

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Comments

Re: List of Bankrupt Midway's Creditors

Submitted by Edward2 on Wed, 09/29/2010 - 09:44.

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Thank you informationn..

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Bu kadar basit.. Degil..

Re: List of Bankrupt Midway's Creditors

Submitted by Edward2 on Wed, 09/29/2010 - 09:20.

Thank you informationn..

Re: List of Bankrupt Midway's Creditors

Submitted by Fight on Fri, 11/06/2009 - 21:37.

This info is very important, especially Midway's Chapter 11 petition, Thanks a lot!------- jumpmanual and Mp3 rockets

Merhaba

Submitted by doktorgizemli on Wed, 09/02/2009 - 09:35.

This post makes no sense to me

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Re: List of Bankrupt Midway's Creditors

Submitted by Seanovan on Sat, 02/14/2009 - 15:35.

I really liked Midway, since I think they were one of the last companies that made pinball tables. This story makes me want to go buy Mortal Kombat vs. DC out of pity.

Re: List of Bankrupt Midway's Creditors

Submitted by ZippyDSMlee on Fri, 02/13/2009 - 18:11.

Wow, highly detailed, this is why I love GP!

Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.

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Re: List of Bankrupt Midway's Creditors

Submitted by sheppy on Fri, 02/13/2009 - 15:11.

This is sad. Hopefully Tobias and Boon could make nice nice again and buy MK to start their own franchise...

Wall of Text Simulation- Insert coin to continue.

Re: List of Bankrupt Midway's Creditors

Submitted by Xveers on Fri, 02/13/2009 - 13:57.

For those who are wondering, I did some quick math and they've got about $220,237,850 bucks owed just in the above listings, meaning that there's -another- $60,795,150 in debt in addition to the above listings (which probably include more basic debts like rent, power bills, etc).

Yeah, big sucking chest wound of debt here.

Best keep your wits about you: The gears of life are always spinning, and ignorance eventually means you'll get caught in them.

Re: List of Bankrupt Midway's Creditors

Submitted by Cerabret100 on Fri, 02/13/2009 - 12:40.

i find it slightly sad that a single person (the former CEO) is among that list as owed money, when everything else is another business..

But that's just the usual "CEO making big bucks even if he isn't CEO anymore" situation pretty much every big company has.

Re: List of Bankrupt Midway's Creditors

Submitted by PHX Corp on Fri, 02/13/2009 - 12:39.

Is midway going to start Midway bucks(similar to arnoldbucks see link http://www.youtube.com/watch?v=YVKMA--nt4I&eurl=http://www.reason.tv/rou...)

America has just became its own version of the Jerry Springer Show after a bizarre moment in Florida involving a carnival worker.

Re: List of Bankrupt Midway's Creditors

Submitted by kagirinai on Fri, 02/13/2009 - 12:18.

I wonder -- do they count the Intellectual Properties they own toward their assets? I mean, I'm sure they could sell Mortal Combat as a licence. It has a value. Is it an asset though?

Re: List of Bankrupt Midway's Creditors

Submitted by SeanB on Fri, 02/13/2009 - 12:32.

As part of thier bankruptcy settlement they could try to sell it, but it's too little too late now. Those bills are HUGE, and an IP/license wont generate that much money. I doubt Mario would be worth enough to save these guys now.

Re: List of Bankrupt Midway's Creditors

Submitted by GTCv Deimos on Fri, 02/13/2009 - 13:32.

Throw in Master Chief, and Lara Croft, Wolverine, and maybe Solid Snake, and you might come close :p

Re: List of Bankrupt Midway's Creditors

Submitted by HarmlessBunny on Fri, 02/13/2009 - 13:43.

*rolling eyes* sounds like a line up for a future Smash Bros game.

==============

James Fletcher, member of ECA Canada

Re: List of Bankrupt Midway's Creditors

Submitted by beemoh on Fri, 02/13/2009 - 13:46.

"Mortal Kombat versus EVERYTHING"

Re: List of Bankrupt Midway's Creditors

Submitted by SeanB on Fri, 02/13/2009 - 14:00.

LOL, if it saves midway, sure!

Re: List of Bankrupt Midway's Creditors

Submitted by HarmlessBunny on Fri, 02/13/2009 - 12:10.

Wow...just wow.... and some folks wonder why the banks are falling apart....

==============

James Fletcher, member of ECA Canada

Re: List of Bankrupt Midway's Creditors

Submitted by SeanB on Fri, 02/13/2009 - 12:33.

no kidding. 150M to thier biggest creditor (unless i missed one)

The creditors should have pulled the plug a while ago.

Re: List of Bankrupt Midway's Creditors

Submitted by Hitodama on Fri, 02/13/2009 - 11:45.

Holy crap, no wonder they went bankrupt.

Re: List of Bankrupt Midway's Creditors

Submitted by shamrock on Fri, 02/13/2009 - 15:47.

Honestly, the exact words popped into my head. I think this is a fantastic article and thanks to GP for getting the info compiled. I wanted everyone to back Midway as best as possible, but wow, that looks hopeless. Obviously these guys made bad decision after bad decision. Sadly, RIP Midway.

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Re: List of Bankrupt Midway's Creditors

Submitted by acotas548 on Thu, 06/04/2009 - 01:32.

This is really great stuff. Corllins University

Re: List of Bankrupt Midway's Creditors

Submitted by sqlrob on Fri, 02/13/2009 - 11:14.

What's with all the stores? Undelivered games? Shelf space charges?

Re: List of Bankrupt Midway's Creditors

Submitted by SeanB on Fri, 02/13/2009 - 12:29.

No, probably buy backs and cost adjustments. When you've bought 20,000 copies of something, and the publisher drops the price, sometimes a sales contract will offer price protection.

How the bills got this high though... i dunno.

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Zen: http://www.airforcetimes.com/article/20130614/OFFDUTY02/306140030/New-Xbox-sin-against-all-service-members-06/18/2013 - 7:33pm

Zen: Been out for a few days, but has anyone brought up the possible ban on Xbox One on military bases because of security concerns that it could be a listening device by Commanders?06/18/2013 - 7:33pm

Andrew Eisen: Sleaker - Fixed.06/18/2013 - 6:34pm

MechaTama31: CMiner: Another issue is that every camera/webcam combination is going to be pretty different, in terms of the software/hardware exploits available. A homogenous hardware/software combo like a console, in millions of homes, will be a much juicier target.06/18/2013 - 6:31pm

Sleaker: Vox pay what you want link is busted.06/18/2013 - 6:27pm

ZippyDSMlee: Mics have to breath put tape over it.06/18/2013 - 6:25pm

NyuRena: You nailed it James! Yikes..06/18/2013 - 1:56pm

james_fudge: With MS willing to share with the government, an always listening device should give everyone pause.06/18/2013 - 1:37pm

james_fudge: you can't turn off the Microphone on the Kinect and it has to be plugged in. It's not rocket science.06/18/2013 - 1:35pm

E. Zachary Knight: The Humble Bundle Guys just don't like me having money in my pocket do they? https://www.humblebundle.com/06/18/2013 - 1:12pm

E. Zachary Knight: CMiner, I know that my Android camera is off unless I am using an application that turns it on. Same with the microphone.06/18/2013 - 12:38pm

CMiner: Can you turn off the camera on an iPhone? Like, -really- turn it off, not just change a setting that -tells- you the camera is off?06/18/2013 - 12:13pm

james_fudge: when they make it a requirement, yes they are06/18/2013 - 12:10pm

CMiner: I just don't think Microsoft bears any more (or less) responsibility for privacy with its Kinect camera than do the makers of laptops or smartphones with integrated cameras.06/18/2013 - 12:00pm

Imautobot: The ability to operate the console without the camera is key. It's a peripheral, not directly integrated into the console, and yet it behaves as if it is. Thankfully I don't have kids, and won't have an Xbone either.06/18/2013 - 11:49am

CMiner: Oh, I agree that the decision to make the kinect mandatory/always listening is terrible.06/18/2013 - 11:48am

E. Zachary Knight: CMiner, and the easier the provider makes to do such things, the better. The fact that the XBone will not even funtion without it plugged in and turned on in some fashion makes a world of difference from a PC Webcam.06/18/2013 - 11:38am

CMiner: It takes steps on the user's part to ensure 100% privacy (unplugging, uninstalling, putting tape over it, not putting it in the kid's rooms, etc)06/18/2013 - 11:29am

CMiner: My point is that no webcam producing company can guarantee that no one will ever ever ever be able to access video from that webcam without your knowledge and permission06/18/2013 - 11:28am

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