Necrogiant
HV January - 8 - 2011 News11 COMMENTS

The management board of JoWooD Entertainment AG announces that all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed on 06/01/2011. On the basis of this fact, material insolvency occurred with this date.

Therefore today, JoWooD Entertainment AG applied for a procedure of capita lreorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute.

Bond creditors of the 10% bond 2007-2011 (ISIN:ย  AT0000A05TV0) are asked to report directly to the company (see queries reference) to be able to coordinate their rights.

The management board assumes that negotiations with creditors and possible investors can be positively conducted and finalized within 90 days and thus continuation of the company can be assured.

Therefore the project Painkiller Redemption is now suspended.

11 Comments

Woremochine

8. January 2011 20:04

This doesn’t sound very good ๐Ÿ™
What happens tp pkzone.org? Or is it not affiliated with JoWood?

GotoRicK

8. January 2011 21:22

Oh no ! This is a really sad new for Painkiller Redemption. ๐Ÿ™ ๐Ÿ™

Woremochine

9. January 2011 05:54

Well, lets not worry too much about Redemption yet, I think that there is enough of us (well im not a developer OR moderator) but enough loyal gamers here at pkzone that maybe we can help somehow to finish it up? We can’t lose hope yet ๐Ÿ™‚

Wjregan0357

9. January 2011 19:27

What I would like to know is, how do they know what is going to happen 6 months from now?????
I wish them well anyway.

TEA51|KL1K

29. January 2011 01:35

Nice that something is moved from JoWooD just a pity that the final message on Painkiller Redemption must wait so long, but I keep my fingers crossed for a positive in this project. I greet all the killers!!!

TEA51|KL1K

29. January 2011 01:35

Nice that something is moved from JoWooD just a pity that the final message on Painkiller Redemption must wait so long, but I keep my fingers crossed for a positive in this project. I greet all the killers!!!

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Painkiller is a first-person shooter game released on April 12, 2004. The game takes place in Purgatory and Hell. The main character is Daniel Garner.