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cdv Software Entertainment AG Filed for Preliminary Insolvency
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Posted by Donster on: 2010-04-16 16:55:41 285
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By Stephany Nunneley @ VG247
cdv Software Entertainment AG has filed for preliminary insolvency, due to non-payment of a settlement court-ordered to be given to it by SouthPeak.
What this means, is that the company is either unable to pay its debts when they fall due or its assets do not cover its liabilities and is unable to pay its debts.
When this happens, a court-ordered administrator is appointed to be a liaison between the debtor and those it owes.
Affiliated companies cdv Deutschland, cdv Software Entertainment USA and cdv Software Entertainment Ltd are currently not affected by the insolvency filing.
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News Source: Email
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