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Atari in debt to Atari
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Old 25th July 2013, 06:33   #1
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Default Atari in debt to Atari

The bankruptcy auction asset sell off of the iconic Atari company is in trouble after its French parent appears to be calling dibs on some key properties.

Atari has been flogging off its prized assets to the highest bidder, but the future of the brand and a couple of key properties is still unknown.

According to Atari User, the company owes a lot of people and the tax man a lot of dosh.

But Atari's French parent company Atari and its French subsidiary Atari Europe are making three claims against Atari and Atari Interactive for quite bit.

Atari SA claims it had loan and financing arrangements in place with the American divisions.

This could mean that it has priority claims amount for just over $30 million. Atari Europe SA wants $261 million, yes, you read right, from Atari Interactive. In the case of the French it is unlikely it will collect any of that.

It is a little odd that Atari's parent has turned on its own children. The theory is that the French Atari is trying to get its paws on the company name and brand so that it can spin the wheel another time. Certainly there are a few who think the Atari name has a fair bit of mileage left.
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