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TimeGate Studios, the developer behind Section 8 and co-developer of Aliens: Colonial Marines , has filed for Chapter 11 bankruptcy protection. The petition, filed in the Texas Southern Bankruptcy Court yesterday, lists less than 50 creditors owed money from Tโฆ
Section 8 developer TimeGate Studios thought it was off the hook for a $7.35 million arbitration ruling when it won its appeal last year over a dispute with Southpeak Interactive surrounding the game. Unfortunately for TimeGate, that ruling has been overturnedโฆ
Thanks to the ruling of a Texas district court judge, Section 8 developer TimeGate Studios won't be forced to pay millions in allegedly misused development funds to publisher SouthPeak, nor will SouthPeak retain a permanent license for the Section 8 IP and itsโฆ
Released in September 2009 for the PC and Xbox 360, right around Halo 3: ODST , Section 8 mostly flew under the radar. PlayStation 3 owners will get the chance to check out Section 8 later today, which will be released as a digital download on the PlayStation โฆ