The company has been liquidating assets throughout July in an attempt to pay off a debt of at least $US12 ($16) million, according to bankruptcy filings.
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Fireforge – the studio behind the recently released Ghostbusters game – have filed for bankruptcy, according to Kotaku.
The Ghostbusters game was, by all accounts, not very good. According to sources close to Kotaku, the game was developed in just eight months.
Tan alleges that Fireforge failed to deliver on their contract while developing codename Zeus, and used said funding to work on Tencent’s title, Atlas.
Fireforge owes around $11.3 million to Tencent, and in addition the studio is facing a lawsuit from a company called Min Productions. FireForge deny this claim, saying they worked with Atlas after Razer stopped paying them.
The lawsuit in this case is now on hold as Fireforge sort out their bankruptcy.
On top of all that, lawyer Richard Land sued Fireforge a year ago, claiming the company signed a deal to license 38 Studios’ social media platform Helios for $3.7 million, but instead built its own version using ex-38 Studios employees.
But while the movie seems to have received more positive reviews than negative ones, everyone agrees that the video game tie-in is terrible.
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Tan says Fireforge used the money it was given to complete Zeus to work on Atlas, though the United States firm claims it only started working on the Tencent title once Min Productions stopped paying it. The developer was working on two MOBAs – Atlas and Zeus – for Tencent and Razer respectively. The case is now pending as Fireforge sort through their bankruptcy proceedings. Land claims that Fireforge signed a deal to licence 38 Studios’ proprietary social media platform Helios for $US3.7 ($5) million, then reneged and instead hired several ex-38 Studios employees to build their own version.
