Last year, the Liquidating Trustee (the "Trustee") in the Midway Games bankruptcy began filing avoidance actions against creditors of the bankruptcy estate. Midway Games ("Midway" or the "Debtor") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware on February 12, 2009. For those not familiar with this bankruptcy proceeding, Midway developed and distributed video games throughout the North America, Europe and Asia. See Debtor's Declaration in Support of First Day Motions ("Declaration") at *4.
On May 21, 2010, the Bankruptcy Court entered an Order confirming Midway's joint chapter 11 plan of liquidation (the "Plan of Liquidation"). Under the Plan of Liquidation, Buchwald Capital Advisors LLC was appointed the Trustee. The Trustee's responsibilities include collecting and distributing assets of Midway. More specifically, the Trustee is responsible for commencing causes of actions on behalf of the bankruptcy estate.
The Midway Games bankruptcy, as well as the avoidance actions filed by the Trustee, are pending before the Honorable Kevin Gross. The Trustee is represented by Nieger LLP and Stevens & Lee, P.C.