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The company behind the Electronic Sports World Cup, Games-Services, has now officially gone into liquidation.
Having paid a small fee to access information regarding legal proceedings from a goverment website the story was first discovered by Against All Authority Editor-in Chief who obtained a document outlining the result of a tribunal involving the ESWC organisers, Games-Services.
The result was that Games-Services has now entered liquidation, in other words ceased all business operation by using its assets to discharge its liabilities (its debts). Matthieu Dallon sent out a release in March stating that the ESWC organisers were "facing a serious cash flow crisis."
Games-Services made it official after posting an announcement earlier today on their website confirming the cease of all activities.
Official statement on the Games-Services website
"Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009"
"Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009. In consequence, all the employees and managers have been relieved from their duties and laid off April 2nd, by the adjudication.
The process of liquidation, which is starting this week, will notably organize the potential trade-in or resale of the company’s assets including the Electronic Sports World Cup and Overgame."
This means we could see the ESWC brand being sold onto another company but given the current climate, who could possibly wish to take on such a huge burden? It also begs the question of what will happen to prize money of its past installment after teams and players signed an agreement that they would not receive it until a year after the tournament. Another question mark is if the 2009 Grand Final will even take place despite Dallon saying "the event might be organized by a third party."
Games-Services / Team-aAa
http://www.sk-gaming.com/content/23345-ESWC_is_dead_company_enters_liquidation
Having paid a small fee to access information regarding legal proceedings from a goverment website the story was first discovered by Against All Authority Editor-in Chief who obtained a document outlining the result of a tribunal involving the ESWC organisers, Games-Services.
The result was that Games-Services has now entered liquidation, in other words ceased all business operation by using its assets to discharge its liabilities (its debts). Matthieu Dallon sent out a release in March stating that the ESWC organisers were "facing a serious cash flow crisis."
Games-Services made it official after posting an announcement earlier today on their website confirming the cease of all activities.
Official statement on the Games-Services website
"Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009"
"Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009. In consequence, all the employees and managers have been relieved from their duties and laid off April 2nd, by the adjudication.
The process of liquidation, which is starting this week, will notably organize the potential trade-in or resale of the company’s assets including the Electronic Sports World Cup and Overgame."
This means we could see the ESWC brand being sold onto another company but given the current climate, who could possibly wish to take on such a huge burden? It also begs the question of what will happen to prize money of its past installment after teams and players signed an agreement that they would not receive it until a year after the tournament. Another question mark is if the 2009 Grand Final will even take place despite Dallon saying "the event might be organized by a third party."
Games-Services / Team-aAa
http://www.sk-gaming.com/content/23345-ESWC_is_dead_company_enters_liquidation
