Interplay bankruptcy hearings delayed

[Urizen]

<strong>[ Company -> Update ]</strong> - More info on <a href="#Herve Caen">Person: Herve Caen</a> | More info on <a href="#Interplay">Company: Interplay</a>

Interplay has just posted a SEC 8-K-filing. The only point of interest (actually, the only point at all) is this:

<em>"On February 22, 2007 a status conference was conducted by the Bankruptcy Court
concerning the involuntary petition pending against Interplay Entertainment
Corp. The status conference was continued to May 24, 2007."</em>

Apparently, the bankruptcy issue has been delayed untill late May, for reasons unknown. However, <strong>frymuchan</strong> notes that...

<em>"My guess is that Herve is partially doing this to buy time, and will drag this out as long as possible. He would likely rather not pay any debtor until he obtains additional financing or sells, as each penny right now counts for Interplay in terms of hanging on as long as possible to continue to write off debt."</em>

Personally, I don't understand why Herve hasn't simply lent Interplay the required $61,000. He may not be a wealthy man after his french divorce and all, but he has been paying himself some hefty wages.

<strong>Read: </strong>Interplay's latest <a href="http://www.sec.gov/Archives/edgar/data/ ... 000147.txt" target="_blank">SEC filing
</a>
<strong>Read. </strong>Raging Bull<a href="http://ragingbull.quote.com/mboard/boar ... &read=1826" target="_blank"> forums post by frymuchan</a>
<p>Spotted @ <a href="http://ragingbull.lycos.com/mboard/boar ... LY">Raging Bull Forums</a></p>

[DarkUnderlord]

Personally, I don't understand why Herve hasn't simply lent Interplay the required $61,000. He may not be a wealthy man after his french divorce and all, but he has been paying himself some hefty wages.

... because the company's going down and he knows it.

[PsychoSniper]

Herve is a dipshit.

But a good excuse man.

[Wolfman Walt]

But a good excuse man.

Delaying a trial because you "Don't have your shit together," which is pretty much the reason of the trial to begin with, is a horrible excuse......unless you hate Herve and aren't after his money.

[VasikkA]

The only survivors of a global nuclear holocaust would be rats, roaches and Interplay.

[S4ur0n27]

Herve is a nuclear holocaust.

[aries100]

I don't know how the laws are in the US, but I don't think it is legal to so here in Europe for some odd reason. (I know it isn't in Denmark since a Danish business was sentenced for doing just that, lending his private money to fund his own (public) company or rather get ir out of some economic turmoil).

Maybe the laws are the same in France??

I don't understand the reason behind this, since you're the owner of the company, and you really should be able to put your (private) money into your own company...

And yes, it could be that payed himself some hefty wages, but if you spent 1 dollar more pr. dollar than you earn, well....

[Urizen]

it's legal here in norway, and i assumed that it is in the us as well.