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Interplay bankruptcy hearings delayed
 
Interplay bankruptcy hearings delayed [ Company -> Update ]
Posted by Urizen Thu 01 Mar 2007, 11:30 PM
More info on Person: Herve Caen | More info on Company: Interplay
Interplay has just posted a SEC 8-K-filing. The only point of interest (actually, the only point at all) is this:

"On February 22, 2007 a status conference was conducted by the Bankruptcy Court
concerning the involuntary petition pending against Interplay Entertainment
Corp. The status conference was continued to May 24, 2007."


Apparently, the bankruptcy issue has been delayed untill late May, for reasons unknown. However, frymuchan notes that...

"My guess is that Herve is partially doing this to buy time, and will drag this out as long as possible. He would likely rather not pay any debtor until he obtains additional financing or sells, as each penny right now counts for Interplay in terms of hanging on as long as possible to continue to write off debt."

Personally, I don't understand why Herve hasn't simply lent Interplay the required $61,000. He may not be a wealthy man after his french divorce and all, but he has been paying himself some hefty wages.

Read: Interplay's latest SEC filing

Read. Raging Bull forums post by frymuchan
Spotted @ Raging Bull Forums
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