Midway authorised to fund ongoing operations
US Bankruptcy Court allows Midway to use cash for expenses
Following last week's news that Midway may be heading for bankruptcy, the troubled publisher has now announced it has been given the green light to use cash collateral to fund operations.
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The US Bankruptcy Court has authorised Midway to use funds that were provided when the publisher initially filed for reorganisation for day-to-day expenses.
"Approval of these motions is an important first step in this planned and orderly reorganisation, enabling Midway to continue to operate as usual during this process," said CEO Matt Booty.
"We remain confident in Midway's ability to use this proven process to address our capital structure and explore our strategic alternatives," Booty added.
More on the Midway saga at GamesIndustry.
