There's a bidding war brewing over TimeGate's old IP
creator TimeGate Studios filed for bankruptcy
earlier this year. Now a number of different companies are vying for control over the defunct studio's old IP.
Atari's bid for the Section 8
IPs has apparently been accepted by the trustee in charge of the bankruptcy move. However, various other companies are contesting the bid
, saying that they made larger offers first, according to the Wall Street Journal.
CNH Partners and Digital Tribe Games have offered $50,000 with a 25 percent royalty, while SouthPeak Interactive (who has had a run-in with TimeGate before
) has offered $40,000 and a 50 percent royalty.
Both parties are now asking the trustee to reopen the sale process and schedule a live auction. A judge will consider the reopening of the sale this Thursday.