Atari Inc., Affiliates Seek Approval Of Sale of Substantially All Assets

Atari Inc. and its three affiliated debtors moved for approval of the sale of substantially all of the debtors’ assets on May 22 in the U.S. Bankruptcy Court for the Southern District of New York (In re Atari Inc., Bankr. S.D.N.Y., No. 13-10176 (JMP)).

Court documents reflect that the debtors have considered a variety of strategic alternatives in their efforts to create a feasible financial structure moving forward, and that “[g]iven the [d]ebtors’ liquidity constraints and the difficulty of securing long term financing to support reorganization, the [d]ebtors and their advisors ultimately determined that the best way to ...