[WernerTWC]

We discussed already some speculations in the "JoWooD filed lawsuit today" thread, so for everyone who's interessted, check also that lawsuit thread:
http://forum.worldofplayers.de/forum...d.php?t=934389

Anyway, ... it happend:

JoWooD applied for a procedure of capital reorganization

Vienna, Austria, 7 January 2011; The management board of JoWooD Entertainment AG announces that all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed on 06/01/2011. On the basis of this fact, material insolvency occurred with this date.

Therefore today, JoWooD Entertainment AG applied for a procedure of capita lreorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute.

Bond creditors of the 10% bond 2007-2011 (ISIN: AT0000A05TV0) are asked to report directly to the company (see queries reference) to be able to coordinate their rights.

The management board assumes that negotiations with creditors and possible investors can be positively conducted and finalized within 90 days and thus continuation of the company can be assured.

Source:
http://corporate.jowood.com/content/view/224/1/lang,en/

[ICFabian]

Hurrah, hurrah, the witch is dead?

Hmph. 90 days 'till the final breath, or before someone stupid enough shows up to actually support it.

[warstrike]

YESSSSSS OH MY GOD I LOVE YOU !!!

If this is for REAL then we should throw a party right now !!! BEST news ever !!!!!!! Give gothic rights back to PB !! imediately

[ICFabian]

So what does this mean, actually? That Gothic 3 and Arcania and Gothic 2 will stop showing up in shops because there's no-one left to produce them?

[megalex]

JoWood kills Gothic, JoWood makes Arcania, Arcania kills JoWood. NICE!

[foris]

I don't get it, that actually means that Jowood is going to close???

[WernerTWC]

If this is for REAL then we should throw a party right now !!! BEST news ever !!!!!!! Give gothic rights back to PB !! imediately

So what does this mean, actually? That Gothic 3 and Arcania and Gothic 2 will stop showing up in shops because there's no-one left to produce them?

I don't get it, that actually means that Jowood is going to close???

I guess the best is to just wait what the next 90 days will bring, the rest is only speculation.

[Larisa]

I don't get it, that actually means that Jowood is going to close???

Not necessarily. But it's with one foot in the grave.

[Hellbilly]

Not necessarily. But it's with one foot in the grave.

Yeah. I would guess someone will buy up JoWood or summat, especially if it turns out JoWood still retain the rights to some (semi-) popular franchises. And AFAIK companies that enter into capital reorganization plans, if they can present a decent plan of action, often reach an agreement with their creditors: after all, getting the money in smaller rates a bit later, or at least a portion of the money, is better than not getting the money at all, from a creditors' point of view. And I guess these aren't the type of creditors who'll bring a severed horse head to your bed if you don't pay...

[axon]

JoWood kills Gothic, JoWood makes Arcania, Arcania kills JoWood. NICE!

Hähä, this description sounds realy epic... .

[foris]

90 days are just too much, also if jowood goes bankrupt what will happen of the upcoming expansion, the fall of setarif??

[warstrike]

90 days are just too much, also if jowood goes bankrupt what will happen of the upcoming expansion, the fall of setarif??

forget about that ! lets hope for "Fall Of Jowood"

[Godcrusher]

Finally, retribution for Gothics!

[ICFabian]

Yeah. I would guess someone will buy up JoWood or summat, especially if it turns out JoWood still retain the rights to some (semi-) popular franchises.

EA Gothic OH LORDS DNW DNW DNFW D:

[Larisa]

Also, even if they are acquired by a bigger fish, it's possible 90% will be the same people. Even some of the decision makers, with their vision about how to do business. Or the buyer will have more funky ideas (Gothic the strategy game, Gothic the card game, Gothic in space, etc.).

[ICFabian]

Bottom line: Gothic is good and fucked, someone should just tear up the document, or whatever it is that attests the rights to Gothic, and let it decompose naturally.

After all, it lived a good, long life. It stands to reason that it deserves peace after death.

[WernerTWC]

Or the buyer will have more funky ideas (Gothic the strategy game, Gothic the card game, Gothic in space, etc.).

The rights to the brand "Gothic" is by PB's. So, it would more be Arcania the strategy game, Arcania the card game, Arcania in space.

[CrashMorraKan]

that's good i never liked JoWood, look what they did with forsaken gods...
lol and told that "gothic 3 was already a buged game to begin with"
question was: was it hard to remake gothic 3? lol! loosers i don't understand why there is their logo in gothic 2 Piranha bytes made gothic 1 (the best gothic in the series) so they could be good without jowood =.- it's like EA bought westwood from command & conquer game that was awesome strategy and made crap C&C 3 tiberium wars and C&C4 shit!
besides kai is in PB right? so jowood have a hard time making good music for arcania haha!

[Dimus]

I'm afraid that in case of JoWooD bankruptcy guys from CPT can't get any euro for their work under "Forsaken Gods" bug fixing.

[KGS]

What Does Insolvency Mean?
When an individual or organization can no longer meet its financial obligations with its lender or lenders as debts become due. Insolvency can lead to insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts.

Investopedia explains Insolvency
Before an insolvent company or person gets involved in insolvency proceedings, it will likely be involved in more informal arrangements with creditors, such as making alternative payment arrangements. Insolvency can arise from poor cash management, a reduction in the forecasted cash inflow or from an increase in cash expenses.

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