According to the blog Distressed Debt Roberta DeAngelis, U.S. Trustee overseeing the THQ bankruptcy proceedings, has filed an objection to the sale of THQ to Clearlake Capital. A move that sees virtually all assets of the ailing publisher move to Clearlake for a combined sum of liabilities and cash of $60 million. DeAngelis objection takes aim at how other bidders were given little chance of maximising the potential value of what remains of THQ.
Once the dust settles we'll see what actually took place here, but given the substantial value that lies in THQ IP - $60 million always seemed a low number.