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SouthPeak, Paradox Resolve Distribution Dispute

SouthPeak, Paradox Resolve Distribution Dispute

April 1, 2010 | By Leigh Alexander

A legal dispute between PC developer Paradox Interactive and publisher SouthPeak over a distribution deal gone sour has been resolved, SouthPeak announced today.

SouthPeak says the two companies reached an "amicable resolution," and a settlement under the terms of which it will pay Paradox the outstanding payments at the center of the dispute.

Hearts of Iron developer Paradox filed a lawsuit against the My Baby and Two Worlds publisher last month, alleging it was owed $585,382 in unpaid revenues from the distribution of its games.

Paradox also alleged that SouthPeak was in a position to reclaim unsold Paradox games from retailers even if they could still be sold, a move by which it said it would be "irreparably harmed."

Paradox asserted at the time that SouthPeak, which reported a $2.6 million loss in its most recent fiscal quarter and recently extended its credit line to $8 million borrowed, was insolvent.

"SouthPeak has demonstrated its financial stability and both parties are delighted to have established a mutually agreeable resolution to the dispute," says SouthPeak in today's statement. "As a result, the arbitration and lawsuit will be dismissed."

Paradox CEO Fredrik Wester also commented on the settlement: "SouthPeak’s ability to settle this matter swiftly is a tribute to their professionalism and their sound financial integrity," he said. "We wish SouthPeak much future success."

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