THQ Inc fka THQIQ

[RallyTheMarket]

After a long quiet period I've gotten some more materials from THQI.

There is a new proposed plan for the Amended Chapter 11 Plan of Liquidation of THQ. The hearing is set for July 16, 2013 at 10:30AM (Eastern time).

The disclosure Statement and the Proposed Plan may be obtained through http://kccllc.net/thq. I received a CD with the proposed plan, but have not had the time to review it yet.

Voting deadline is July 2, 2013 at 5:00 PM (Pacific time)

Looking at the ballot There are 4 items. Item 2 and 3 seem to be the most important. Item 2 is For or Against the Proposed Plan. and Item 3 is an optional Class Election.

Class Election. You can elect to have your Convenience Claim (Class 4) to be treated as a Class 5 General Unsecured Claim. Differences being: If you are owed less than $10,000 you will be treated as the Holder of a Class 4 Claim and will receive a distribution of 30% of your Allowed Claim. If you are owed more than $10,000 you will be treated as the Holder of a Class 5 General Unsecured Claim and will receive a pro rata share of all cash available for distribution after priority claims and secured claims are paid. The Debtors cannot definitively predict what distributions you will receive, primarily because many claims are disputed and the amount each creditor will receive will depend on multiple factors, including aggregate amount of all claims that are ultimately allowed. The Debtors best estimate is that General Unsecured Creditors will receive between (a) 31.5% and 51.9% of their Allowed Claims if the Claims filed by the Debtor's European subsidiaries in the aggregate amount of almost $108 million are disallowed or subordinated or (b) 19.9% and 29.6% if those Claims Claims are Allowed and not subordinated.

Off hand I will probably approve the plan and not elect to be treated as a General Unsecured Claim. Let me know if you feel otherwise. Hope it comes to an end soon. All the best.