[UPDATE] Cliffhanger Productions Bankruptcy: New Developments

UPDATE: A new statement has been released by Cliffhanger, outlining some details and plans for the future. Head over to the Steam Forum via this link to read it.Cliffhanger Productions (Shadowrun Chronicles) are having financial issues that lead them to file for bankruptcy. Even though we only just covered this, there have been a couple of new developments since then.

For starters, their Managing Director Jan Wagner now told the Austrian publication DerStandard (source is german): “We will see how things pan out for the team over the coming week, once the insolvency administrator has talked to us. There will certainly be cuts, but we are called Cliffhanger for a reason. This is not the end for either Shadowrun or us”

Michael Paeck, also Managing Director at Cliffhanger, told Kurier.at (also german): “Shadowrun Chronicles is not affected by the insolvency and both operation and further development will continue. They will be handled by our affiliate company Cliffhanger Productions Games GmbH (a separate legal entity from the now bankrupt Cliffhanger Productions Software GmbH)”
Paeck also mentions that they are currently in talks with potential investors, but to no avail yet.

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And then there is this statement on the Steam Forum

So, what could this all mean?
First off: Players of Shadowrun Chronicles will probably still be able to enjoy the game for some time. No promises can be made, but if all of this is true, then things are looking quite a bit brighter for the games future.

UGE_plex mentioned in our comments that Nordic Games, who are also based in Vienna, was heavily involved in publishing and distribution. We also know that Nordic has been securing IPs and games left and right for the last couple of months. While certainly not a AAA publisher, they do seem to care for their franchises and them acquiring as much of the assets on sale as possible, would sound like a good move for both parties.

There is also still the possibility of a composition proceeding, which would mean that the company would be able to continue operating. This would however mean, that the creditors approve the reducing of the debt that has to be paid.

I will try to keep you updated on this developing story, and if you have any new information leave us a comment.

Sources: derStandard.at, kurier.at, Steam Forum