Update: THQ Now Able to Move Forward With Bankruptcy & Sale Process Following Court Approval

By Nick Paglino

Bloomberg is reporting that WWE video game producer THQ has received court approval and is now able to move forward with its bankruptcy claim and sale process.

After reaching an agreement with creditors, U.S. Bankruptcy Judge Mary F. Walrath approved guidelines that will govern the sale of the company’s assets at a bankruptcy auction and the company’s $37.5 million bankruptcy loan at a hearing Monday in Wilmington, Delaware.

The auction date is scheduled for January 22, 2013 with a process for sale by January 23, 2013. Clearlake Capital Group LP’s opening bid has been approved by the court but the auction will allow for more bids to be placed.

Nick Paglino
Nick Paglino

Nick was born and raised in Detroit, Michigan, and lived there until the age of 18, when he decided to pack his flack jacket and move to New York City.

Nick attended New York University and graduated in 2001 with a degree in Drama.

Nick first entered the internet wrestling community back in 2004 when he became the co-host of The Voice of Wrestling Radio Show. From there, Nick made the transition from radio personality to editor when he began working with WrestleZone in 2008.

Nick is a member of two Off-Broadway theatre companies, Another Urban Riff, and the Drama Desk Award winning Godlight Theatre Company. Nick has appeared in over a dozen Off-Broadway plays since he moved to New York City, and has shot several short and feature length films. In 2010, he completed principle photography on a film titled "How to Score Your Life," which also features TNA Knockout ODB.

Inspiration in his life has come from many people including his family, Woody Allen, Steven Spielberg, Jack Nicholson, The Beatles, and of course, Lassie.

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