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.
Hades 2 Early Access GameSpot Video Review Ranking Warhammer 40,000 Video Games - Tier List MY HERO ULTRA RUMBLE – Season 5 Content UpdateTrailer Street Fighter 6 - Akuma Update Launch Trailer Elden Ring Shadow of the Erdtree Story Trailer Breakdown and Lore Discussion Battlefield 2042 | Future Strike – Time-Limited Event Trailer Kingmakers – Official "Wreak Havoc" Vehicle Destruction Gameplay Trailer The First Descendant│Official Dev Talk│Story Deep Dive Trailer System Shock – Console Launch Trailer ELDEN RING Shadow Of The Erdtree | Official Cinematic Story Trailer KINGDOM HEARTS - Official Steam Announcement Trailer Paper Mario: The Thousand-Year Door Review
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