JoWooD's Future Uncertain as Unnamed Investor Loses Interest

March 23, 2011

According to the company handling Vienna-based publisher JoWooD's insolvency, an unnamed investor has withdrawn its interest in the company. Insolvency organizer Helmut Platzgummer does say that two other investors are still interested in helping JoWooD with its cash flow problem.

The Vienna-based company is best known for role-playing series Gothic. The company has been actively seeking new investment since filing for insolvency earlier this year. At that time, the company's board claimed that it could conclude discussions with creditors within 90 days.

Things are not looking good for the company at the moment. Recently it announced that the Gothic 4 expansion, ArcaniA – Fall of Setarrif, had been cancelled due to "legal uncertainty." JoWooD business development manager Stefan Berger of the expansion: "It's uncertain whether the game can be released onto the market in its current form." He should have probably thought that way about Gothic 4.

JoWooD has around 90 employees. The company filed a lawsuit against publisher Koch Media, claiming that the German firm owed it €2.36 million ($3.04 million) plus interest, for shares purchased in 2006.

Source: GI.biz

Posted in
 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
Cecil475: @PHX Corp - The dude's a moron who wouldn't know crap if it came up and kicked him.05/19/2013 - 6:36am
PHX Corp: http://kotaku.com/ea-sports-developer-calls-wii-u-crap-and-nintendo-wa-508481261 EA Sports Canada Moron calls Wii U 'Crap' and Nintendo 'Walking Dead'05/18/2013 - 11:42am
E. Zachary Knight: If the videos are of sufficient quality that people subscribe and watch regularly, then those let's players are providing a service that people want. That is the heart of capitalism. That is not something that should be shamed.05/17/2013 - 8:06am
E. Zachary Knight: I have no idea who either of those people are. However, I still don't see why making a business out of creating let's play videos is somehow evil or wrong.05/17/2013 - 8:04am
MaskedPixelante: It sure is if you're just doing it for the money. See Tobuscus and/or Pewdiepie for what happens when people get into it just for the money.05/17/2013 - 7:30am
E. Zachary Knight: Why is it wrong to make money doing LPs? Why should that be something that should be shamed?05/17/2013 - 6:20am
MaskedPixelante: https://twitter.com/PsychedelicSA/status/335183893214924801 Now here's an interesting, glass half full thought about the Nintendo LP thing. It outs the people who are just doing LPs to make money.05/17/2013 - 5:56am
E. Zachary Knight: I responded in writing to all this "let's play" stuff Nintendo Started. No need for my permission, I won't give it. It's not mine to give. http://divineknightgaming.com/?p=29205/16/2013 - 2:21pm
E. Zachary Knight: Lars Doucet of Levelup Labs has a Reddit going on game companies that allow monetization of Let's Play videos. http://www.reddit.com/r/Games/comments/1egayn/lets_build_a_list_of_game_studios_that_allow/05/16/2013 - 1:04pm
Sleaker: @Imautobot - yah I wouldn't use an emulator as a good first run test of how stable the console is, haha.05/16/2013 - 11:47am
E. Zachary Knight: The 50th person to jump off a bridge is just as dumb if not dumber than the 1st.05/16/2013 - 10:03am
MaskedPixelante: Yeah, let's all jump on Nintendo for doing this, even though they're hardly the first company to do this...05/16/2013 - 9:47am
E. Zachary Knight: Wow Nintendo, this is wrong. http://kotaku.com/nintendo-forcing-ads-on-some-youtube-lets-play-video-50709238305/16/2013 - 8:44am
Imautobot: @Sleaker, further gameplay has revealed that the controller button do stick under the faceplate. Also, The NES emulator (Emuya)keeps crashing on me, though I think a bad ROM is causing it.05/16/2013 - 7:10am
Papa Midnight: AE: I wonder if any other publishers will follow suit.05/15/2013 - 8:12pm
Andrew Eisen: EA is ditching Online Pass. http://venturebeat.com/2013/05/15/ea-kills-its-controversial-online-pass-program/05/15/2013 - 7:20pm
Avalongod: @Zach and quicnkold...I've read the bill and the intent of it is to fear-monger. It's not a balanced message. I don't recall the ESRB being mentioned at all. It's more "keeps your kids away from these movies/games or they'll become violent"05/15/2013 - 4:35pm
E. Zachary Knight: quiknkold, The big problem with that legislation is the amount of misinformation out there. Who is going to ensure that the information in the pamphlet is accurate?05/15/2013 - 3:25pm
quiknkold: REBeardogg : I'm on the fence about this. on one side, I want parents to be aware of the ESRB, and even Movie Ratings. On the other hand, I feel this will be used for nothing but Propaganda. The ESRB does a good job.05/15/2013 - 3:07pm
IanC: Frostbite is coming out on iOS devices. Yet the Wii U cant handle it? *coughbullshitcough*05/15/2013 - 2:31pm
All shouts
 

Be Heard - Contact Your Politician