Midway Games reaches agreement with creditors’ committee in Chapter 11

Midway Games continued its liquidating Chapter 11 plan this past week. According to court reports, the company’s creditors’ committee agreed to settle claims against the company’s owner Summer Redstone.

The settlement will likely allow unsecured creditors to recover 25 percent of their loans. It will be reviewed for approval June 23. Midway Games developed a number of video games, including “Mortal Kombat.”

If your company is considering a Chapter 11 bankruptcy filing, contact the Birmingham Chapter 11 attorney Paula Greenway at (205) 324-4000.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.