cdv names Southpeak as reason for insolvency

Author : LavadaCrooks
Publish Date : 2021-04-20 09:37:13
cdv names Southpeak as reason for insolvency

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cdv Software Entertainment AG has released a statement citing the non-payment of funds awarded it in a lawsuit by Southpeak Interactive as the reason why it has been forced to file for preliminary insolvency.

The company, now being run by a court-appointed administrator, is "proactively working on solutions to restructure the company," while it has also entered into discussions with possible investors or purchasers.

"This action was taken following the non-payment of a settlement arising from a recent successful lawsuit against Southpeak Interactive," the statement read, adding that legal measures against its former publishing partner were ongoing.

The move, initially reported by GamesIndustry.bizyesterday also confirms the position that the company is continuing to run as normal for the time being, while the US and UK subsidiaries are unaffected.

Southpeak Interactive has failed to respond to requests for comment.

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Companies in this article

cdv Software Entertainment AG has released a statement citing the non-payment of funds awarded it in a lawsuit by Southpeak Interactive as the reason why it has been forced to file for preliminary insolvency.

The company, now being run by a court-appointed administrator, is "proactively working on solutions to restructure the company," while it has also entered into discussions with possible investors or purchasers.

"This action was taken following the non-payment of a settlement arising from a recent successful lawsuit against Southpeak Interactive," the statement read,

Share this article

Companies in this article

cdv Software Entertainment AG has released a statement citing the non-payment of funds awarded it in a lawsuit by Southpeak Interactive as the reason why it has been forced to file for preliminary insolvency.

The company, now being run by a court-appointed administrator, is "proactively working on solutions to restructure the company," while it has also entered into discussions with possible investors or purchasers.

"This action was taken following the non-payment of a settlement arising from a recent successful lawsuit against Southpeak Interactive," the statement read, adding that legal measures against its former publishing partner were ongoing.

The move, initially reported by GamesIndustry.bizyesterday a

Share this article

Companies in this article

cdv Software Entertainment AG has released a statement citing the non-payment of funds awarded it in a lawsuit by Southpeak Interactive as the reason why it has been forced to file for preliminary insolvency.

The company, now being run by a court-appointed administrator, is "proactively working on solutions to restructure the company," while it has also entered into discussions with possible investors or purchasers.

"This action was taken following the non-payment of a settlement arising from a recent successful lawsuit against Southpeak Interactive," the statement read, adding that legal measures against its former publishing partner were ongoing.

The move, initially reported by GamesIndustry.bizyesterday also con

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firms the position that the company is continuing to run as normal for the time being, while the US and UK subsidiaries are unaffected.

Southpeak Interactive has failed to respond to requests for comment.

lso confirms the position that the company is continuing to run as normal for the time being, while the US and UK subsidiaries are unaffected.

Southpeak Interactive has failed to respond to requests for comment.

adding that legal measures against its former publishing partner were ongoing.

The move, initially reported by GamesIndustry.bizyesterday also confirms the position that the company is continuing to run as normal for the time being, while the US and UK subsidiaries are unaffected.

Southpeak Interactive has failed to respond to requests for comment.



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