Section 8 dev files for bankruptcy protection
TimeGate Studios files for Chapter 11 in Texas Southern Bankruptcy Court following fraud suit.
Section 8 developer TimeGate Studios, which also contributed to Aliens: Colonial Marines, filed for Chapter 11 bankruptcy protection this week in a Texas bankruptcy court.
Polygon obtained court documents that show the developer has a number of creditors and total liabilities ranging from $10 million to $50 million. Those claiming to be owed money include Epic Games, Agora Games, and DJ2 Entertainment, as well as a local pizza shop asking for $34.80.
Also listed as a top creditor in the bankruptcy filing is Southpeak Interactive, which published the original Section 8. The company is owed an "unknown" amount, according to the documents.
A TimeGate Studios representative could not be reached for comment.
TimeGate Studios' bankruptcy filing comes a month after the Sugar Land, Texas developer lost a fraud appeal case against Southpeak Interactive, facing $7.35 million in damages and the loss of the Section 8 license as a result.
The company laid off an unspecified number of people in early March.
The studio's current project is free-to-play stylized PC shooter Minimum. It is unclear how this project will be affected going forward.
Fallout 4 Next Gen Update Comparison Why Are Video Game Adaptations Good Now? | Spot On Fallout 4 Steam Deck Verified Gameplay ALIEN: Rogue Incursion - Announcement Teaser Trailer Stellar Blade - 13 Things I Wish I Knew S.T.A.L.K.E.R. 2: Heart of Chornobyl — Official "Not a Paradise" Trailer Firearms Expert Reacts to Fallout 76's Guns Manor Lords - Official Medieval City Builder/RTS Launch Trailer Honkai: Star Rail - "Then Wake to Weep" | Version 2.2 Trailer Devil May Cry: Peak Of Combat | Dante: Blazing Tempest Gameplay Trailer SAND LAND — Official Launch Trailer Sea of Thieves Season 12: Official Content Update Video
Please enter your date of birth to view this video
By clicking 'enter', you agree to GameSpot's
Terms of Use and Privacy Policy
Got a news tip or want to contact us directly? Email news@gamespot.com
Join the conversation