Interplay shut down.

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choyrt
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Post by choyrt » Tue Jun 08, 2004 2:58 am

Love to see them spin this one.

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Post by Eldar » Tue Jun 08, 2004 3:10 am

Interplay, the cockroach of the gaming community, lives on in the Caen brothers' one room shack. To avoid prosecution, they plan on moving operations onto a houseboat. To cover expenses, they plan on floating more stocks and lying to their shareholders. More news as it develops.

Rat bastards.
[quote="Ewen Brown"][size=75]i guess someone will quote this making it utterly pointless, but there, it's been said[/size][/quote]

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choyrt
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Post by choyrt » Tue Jun 08, 2004 3:17 am

http://www.theinformationminister.com/p ... =612281110

Found this link. Easy joke, but hey.

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Briosafreak
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Post by Briosafreak » Tue Jun 08, 2004 8:12 am

Krazikatt wrote:WHOA... I want to know what his official statement is right now!!!
Sure
http://www.nma-fallout.com/forum/viewto ... 479#105479
here you go, you need to know a bit of french though, i`ll try to have a translation in a few hours.


Edit: Check this interview
http://www.gaming-age.com/news/2004/6/7-15

And a rough translation of a Titus newsbit:
New victim of the videogaming sector Titus Interactive and three of the company subsidiaries were placed yesterday in redressement judiciaire by the Commerce Court of Meux. Titus now has a period of observation of three months , until the 6 of September, in order to sell certain assets.
Trade of Titus shares was suspended yesterday waiting for this announcement. This suspension remains effective until further notice.

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Capelworth
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Post by Capelworth » Wed Jun 09, 2004 6:04 am

Well no more spinning for Titus. It's been spun.

The Titus group had three components. Two are now bankrupt, but impressively Interplay actually reopened today--until June 15 at which time they must vacate the premises. Less impressively, Caen said that "at least 5 people were at work today."

I guess that inserting the words "at least" was the only possible way to spin that in a more positive light. :D

Here's the article at the OC Register.

More on the lifting of the stop-work order...
OC Register wrote:The state confirmed Tuesday the Interplay stop-work order was lifted.

"They’re in good standing with workers’ comp and can bring employees back in to work," said Dean Fryer, spokesman for the California Labor Commissioner.

The state is auditing Interplay’s payroll records to determine who has been paid and who hasn’t. Once the audit is completed, Interplay must pay back wages and possible penalties. If Interplay doesn’t pay on time, the state could go after Interplay’s assets by filing liens in court.

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Kharn
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Post by Kharn » Wed Jun 09, 2004 11:25 am

Mind posting the other thing, Capelworth?

And Titus being bankrupt is, well, bull

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Odin
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Post by Odin » Wed Jun 09, 2004 5:29 pm

Interplay reopens for workers today


By TAMARA CHUANG
The Orange County Register



Interplay Entertainment Corp. reopened for business today after being shut down last week for not complying with state labor laws, said Herve Caen, chief executive of the computer game developer.

A D V E R T I S E M E N T

A D V E R T I S E M E N T



The Irvine company reinstated its workers’ compensation insurance - the key reason the state’s Department of Industrial Relations, Division of Labor Standards Enforcement fined Interplay $79,000 on Friday and barred its 79 employees from working.

But Interplay still has a rough road ahead. The company is nearly out of cash, hasn’t paid employees for weeks and owes at least $179,000 in payroll taxes and penalties, according to regulatory filings. The company must vacate its headquarters on Von Karman Ave. by June 15, according to an agreement with its landlord, which sued Interplay for not paying rent since January. And Interplay’s majority owner, Titus Interactive in France, filed for bankruptcy on Monday.

"(Titus’ bankruptcy) doesn’t affect us in any way, shape or form," said Caen, because Interplay is independent of Titus. He’s counting on finding new funding through SG Capital, the investment bank firm Interplay hired in April. Caen hopes to announce something soon.

The state confirmed Tuesday the Interplay stop-work order was lifted.

"They’re in good standing with workers’ comp and can bring employees back in to work," said Dean Fryer, spokesman for the California Labor Commissioner.

The state is auditing Interplay’s payroll records to determine who has been paid and who hasn’t. Once the audit is completed, Interplay must pay back wages and possible penalties. If Interplay doesn’t pay on time, the state could go after Interplay’s assets by filing liens in court.

"We’ve missed a couple of payrolls but we’re going to catch up as soon as we get funding," Caen said.

Caen said he has repeatedly told employees they will be paid when cash comes in through more funding or through the ongoing sale of its games, including Baldur’s Gate and Fallout. Caen said at least 5 people were at work today.

"Anybody who will be at Interplay once this period of time is over will have lost nothing, he said
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Capelworth
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Post by Capelworth » Wed Jun 09, 2004 5:47 pm

Kharn wrote:And Titus being bankrupt is, well, bull
Really? Wow! If that's the case, everybody from Gamespot to IGN to the OC Register reported it incorrectly. Wasn't Caen the source on that news?
Kharn wrote:Mind posting the other thing, Capelworth?
I'm assuming you mean the PM from last week. Here it is...
Capelworth wrote:Briosa is right. I believe that Greyrock Capital (and possibly Imperial Bank) will own part or all of the Fallout property in the case of liquidation. It is likely that they will auction the property, however, in an attempt to recover cash from the asset. A creditor will have no interest in holding a game property, so unless they come to an agreement with another party, such as Vivendi, they will probably auction Fallout to the highest bidder.

Any of the large gaming companies (Vivendi, Atari, EA, Microsoft, etc.) could bid on Fallout, but the poor performance of the franchise on the console may limit its appeal to the big boys. If they're not interested, I'd look for smaller companies with a particular interest as possible winning bidders. Fargo and Strehse come to mind...

To explain the ownership aspect in more detail...

Sometimes companies offer intellectual property as collateral for loans. When they do this, the lender takes a "security interest" in the property so that if Interplay were to default on payment, the lender would own either a percentage of or all of the property. As an investor, watching these security interests can be a good indicator as to how much a company is borrowing and how short it is on cash.

Anyway, Interplay has done this a number of times with various IPs, including Fallout. This is a history of ownership and security interest in the Fallout property...

11/26/1996 - Interplay offers Fallout in a security agreement to Imperial Bank as collateral for a loan.

7/8/1997 - Interplay offers a security interest in Fallout to Greyrock in exchange for another loan.

8/8/1997 - Interplay extends a full interest in Fallout to Greyrock for more credit.

7/8/1998 - When Interplay goes public, the mark becomes owned by Interplay Entertainment Corp. (formerly owned by Interplay Productions).

7/10/1998 - Interplay arranges a new security agreement with Greyrock, again offering the Fallout mark as collateral.

8/8/2000 - Titus takes over Interplay and takes its own security interest in Fallout. I'm not entirely sure why they did this.

5/11/2001 - Interplay offers a new security interest in Fallout to LaSalle Business Credit for another loan.

5/24/2002 - Greyrock releases one of its security interests in Fallout, probably because Interplay repaid them after the sale of Shiny Entertainment.

5/28/2002 - Titus releases its security interest on Fallout.

5/28/2002 - LaSalle releases their security interest in Fallout, probably upon repayment by Interplay from the sale of Shiny.

Currently, the principal owner of record of the Fallout trademark is Greyrock. Here's the Fallout trademark...
USPTO wrote:Thank you for your request. Here are the latest results from the TARR web server.

This page was generated by the TARR system on 2004-06-02 03:36:54 ET

Serial Number: 75090234 Assignment Information

Registration Number: 2181084 Assignment Information

Mark (words only): FALLOUT

Standard Character claim: No

Current Status: Registered.

Date of Status: 1998-08-11

Filing Date: 1996-04-18

Transformed into a National Application: No

Registration Date: 1998-08-11

Register: Principal

Law Office Assigned: TMEG Law Office 106


If you are the applicant or applicant's attorney and have questions about this file, please contact the Trademark Assistance Center at TrademarkAssistanceCenter@uspto.gov

Current Location: 900 -Warehouse (Newington)

Date In Location: 1998-10-28




--------------------------------------------------------------------------------

LAST APPLICANT(S)/OWNER(S) OF RECORD

--------------------------------------------------------------------------------
1. GREYROCK BUSINESS CREDIT, A DIVISION OFNATIONSBANK CREDIT COMMERCIAL CORPORATION

Address:
GREYROCK BUSINESS CREDIT, A DIVISION OFNATIONSBANK CREDIT COMMERCIAL CORPORATION
10880 WILSHIRE BLVD., STE. 950
LOS ANGELES, CA 90024
United States
Legal Entity Type: Corporation
State or Country of Incorporation: Delaware


--------------------------------------------------------------------------------

GOODS AND/OR SERVICES

--------------------------------------------------------------------------------
computer programs for video games and computer games and instruction manuals sold as a unit with the games
International Class: 028
First Use Date: 1997-10-08
First Use in Commerce Date: 1997-10-08

Basis: 1(a)


--------------------------------------------------------------------------------

ADDITIONAL INFORMATION

--------------------------------------------------------------------------------
(NOT AVAILABLE)


--------------------------------------------------------------------------------

MADRID PROTOCOL INFORMATION

--------------------------------------------------------------------------------
(NOT AVAILABLE)


--------------------------------------------------------------------------------

PROSECUTION HISTORY

--------------------------------------------------------------------------------
1998-08-11 - Registered - Principal Register

1998-06-11 - Allowed for Registration - Principal Register (SOU accepted)

1998-06-10 - Case file assigned to examining attorney

1998-06-09 - Case file assigned to examining attorney

1998-03-04 - Statement of use processing complete

1997-11-07 - Amendment to Use filed

1997-09-30 - Extension 1 granted

1997-08-29 - Extension 1 filed

1997-03-04 - Notice of allowance - mailed

1996-12-10 - Published for opposition

1996-11-08 - Notice of publication

1996-10-04 - Approved for Pub - Principal Register (Initial exam)

1996-09-24 - Case file assigned to examining attorney


--------------------------------------------------------------------------------

CONTACT INFORMATION

--------------------------------------------------------------------------------
Correspondent
LISA A LATHAM
INTERPLAY PRODUCTIONS
17922 FITCH AVE
IRVINE CA 92714
United States


--------------------------------------------------------------------------------

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Odin
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Post by Odin » Wed Jun 09, 2004 7:03 pm

Capelworth wrote:
Kharn wrote:And Titus being bankrupt is, well, bull
Really? Wow! If that's the case, everybody from Gamespot to IGN to the OC Register reported it incorrectly. Wasn't Caen the source on that news?
The only thing that's officially said is that Titus has been put on some "investigation" and that their shares are put on hold, does that mean that it's bankcrupt ?
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Briosafreak
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Post by Briosafreak » Wed Jun 09, 2004 7:07 pm

Capelworth check the Gamespot newsbit, it has been updated to something closer to what is really happening.

http://www.gamespot.com/news/2004/06/08 ... 00200.html

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Kharn
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Post by Kharn » Wed Jun 09, 2004 7:19 pm

Briosafreak wrote:Capelworth check the Gamespot newsbit, it has been updated to something closer to what is really happening.

http://www.gamespot.com/news/2004/06/08 ... 00200.html
To quote
According to the news service AOF, Titus has entered redressment judiciare, the French form of receivership. For the layman, receivership is a form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee. The Tribunal of Commerce of Meaux halted the trading of Titus shares midday yesterday at 0.16 euros ($0.20) per share. Titus stock will remain suspended pending a review of Titus' finances and those of its two French subsidiaries, developer Sofra Games and distributor Avalon France.
I had actually figured this out from a French hard-to-read article on judicial terms which listed redressment judiciare under banrupcy, but then I was called for dinner. Damn, all that trouble for naught.

So yes, Titus has gone "bankrupt", my problem with GameSpot's earlier statement was they smiply said it was bankrupt with clarification of the how or why, and there're many forms of bankrupcy. Redressment judiciare seems to be, from what I caught, a not-too-unpopular form of avoiding liquidation, but it rarely leads to anything.

Most people probably just assumed it was a "traditional" bankrupcy and Titus was gone, but that's obviously not the case.
Capelworth wrote:I'm assuming you mean the PM from last week. Here it is...
Actually no, I'm meant to OC register article, but I already got that from somewhere else.

But thanks for posting that, I'll refer people that keep asking about the license to it.

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Post by Fluffy17 » Thu Jun 10, 2004 2:52 am

I can't believe this thread is still active, Interplay's dead people and we can all :cry: without everybody knowing it. Lock the bloody thread.
I have no time for flat characters why should I have times for flat people?

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Post by MERLANCE » Thu Jun 10, 2004 4:36 am

Sory Fluffy, but we take some sort of macabre enjoyment as Interplay lies squirming on the ground, gasping for breath while its throat has been slit.

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Post by Fluffy17 » Thu Jun 10, 2004 2:49 pm

MERLANCE wrote:Sory Fluffy, but we take some sort of macabre enjoyment as Interplay lies squirming on the ground, gasping for breath while its throat has been slit.
*pukes reading the description* agreed.
I have no time for flat characters why should I have times for flat people?

I'm Otto von Bismarck watch me blow, watch the butterflies coming out of my nose.

"You can't choose what bothers you, that's why it bothers you."

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Post by choyrt » Fri Jun 11, 2004 12:23 am

Interplay is like disco.


It will never die.

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