Midway Insider Trade Claims a Likely Focus of Redstone Depositions

March 5, 2009 -

Last month, GamePolitics broke the news that some creditors of bankrupt Midway were alleging that the recent sale of the financially troubled Mortal Kombat publisher was a sham.

In a document filed with the U.S. Bankruptcy Court, attorneys for certain of Midway's unsecured creditors charged that insider dealing had occurred between the former owner, media mogul Sumner Redstone, and the new owner, mystery man Mark Thomas. According to those allegations, Thomas, whose shell company, Acquisitions Holding Subsidiary, purchased Midway for a mere $100,000 in November, stood to reap a 30,000% return on his investment.

As of this morning, civil subpoenas have been issued for Sumner Redstone and his daughter, Shari, who formerly served as chairperson of Midway. Both are required to appear later this month for separate depositions in New York City. The Redstones will be required to bring documents, notes and e-mails relating to the operation of Midway as well as to their dealings with Mark Thomas.

So far, court records do not indicate that Thomas has been subpoenaed.

GP: It is important to note that these subpoenas are related to a financial dispute between creditors in Midway's bankruptcy case. They are not related to any type of criminal or government regulatory investigation.

DOCUMENT DUMP: See Shari Redstone's subpoena here. For Sumner Redstone's subpoena, click here.


Comments

Re: Midway Insider Trade Claims a Likely Focus of Redstone

This'll be fun to follow over the next couple months...

Re: Midway Insider Trade Claims a Likely Focus of Redstone

Re: Midway Insider Trade Claims a Likely Focus of Redstone

I'm starting to wonder if Thomas actually exists.

Re: Midway Insider Trade Claims a Likely Focus of Redstone

This Thomas fellow is most likely a puppet fabricated by the BoE for use as a handy scapegoat. If the company goes six feet underground, it's Thomas that does the time.

I think he exists. It's a canary bird that'll do the time, though.

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste | Will give an e-cookie to whoever guesses the reference |

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste |

Re: Midway Insider Trade Claims a Likely Focus of Redstone

Have we ever found out exaclty who this Thomas guy is? like...even what he looks like?

 
Forgot your password?
Username :
Password :

Poll

How do you feel about Amazon buying Twitch?:

Shout box

You're not permitted to post shouts.
ZenMasked, not really sure what your are talking about lol. They will be giving a total of 6 characters, 8 vehicles, and 16 tracks...plus the Yoshi and Shy Guy sets if you get both packs. Not bad for about the price of a single CoD map pack lol.08/27/2014 - 7:02am
MaskedPixelanteSee the flaw here. Blue Falcon car, F-Zero themed track, and Link as a playable character.08/27/2014 - 6:46am
IanCNext Level Games would like to say hi.08/27/2014 - 6:32am
Uncharted NEShttp://kotaku.com/zelda-f-zero-coming-to-mario-kart-8-162715073008/26/2014 - 11:17pm
Uncharted NESAlso $8 for each or $12 for both.08/26/2014 - 11:16pm
Uncharted NESZelda, Animal Crossing Coming To Mario Kart 8.08/26/2014 - 11:15pm
Andrew EisenNintendo has worked with plenty of western or non-Japan devs. It partners more often with devs in its own country but I wouldn't say it doesn't like western devs.08/26/2014 - 7:36pm
Matthew WilsonOr... give it to the studio that just formed from the old Darksiders guys. yeah I know outside of Retro they do not like working with western devs.08/26/2014 - 6:46pm
MechaTama31They should have just handed the Zelda reins to the team responsible for Okami, because they out-Zelda-ed Zelda.08/26/2014 - 6:08pm
Uncharted NESI miss Nintendo-Capcom Zelda games. ALTTP on the GBA was my first real time really playing through that game. And you know what, it was fun. :P08/26/2014 - 5:42pm
IanC3 and a half amazing games, since Capcom did the A Link to the Past port, and the Four Swords game that was on the cart. So thats 4 games then, id guess.08/26/2014 - 5:03pm
MaskedPixelanteDepends on who's teaming up with what. Zelda plus Capcom gave us three amazing games. Zelda plus Phillips gave us Youtube Poop.08/26/2014 - 3:25pm
E. Zachary KnightNintendo has had a fairly decent track record with teaming up with external development houses to make games based on their IP, at least recently. I hope they keep it up.08/26/2014 - 3:14pm
IanCThe idea of the Tekken team making a Pokémon fighting game is A: funny and B: clever.08/26/2014 - 2:39pm
IanCBlizzard took the Act 4 ending cut scene out of Diablo 3 Ultimate Evil Edition. So if you want to see the final cut scene from the base game better go look on youtube or something.08/26/2014 - 2:38pm
Andrew EisenI hope Magikarp is playable!08/26/2014 - 11:14am
MaskedPixelantehttp://www.joystiq.com/2014/08/26/psa-psn-gets-knocked-down-again/ Hey, guess what happened again.08/26/2014 - 9:51am
MaskedPixelantehttp://www.joystiq.com/2014/08/26/tekken-style-pokemon-fighter-unveiled-for-arcades-in-2015/ Continuing Nintendo's plan of letting other devs take a stab at their IPs, NB is doing a Pokemon fighting game based on Tekken.08/26/2014 - 9:41am
MaskedPixelantehttps://www.youtube.com/watch?v=PsB1e-1BB4Y John Oliver talks about the wage gap between women and men.08/26/2014 - 7:07am
Papa MidnightNew York Times: http://www.nytimes.com/2014/08/26/technology/amazon-nears-a-deal-for-twitch.html?_r=008/25/2014 - 5:23pm
 

Be Heard - Contact Your Politician