U.S. Trustee Roberta DeAngelis is objecting to the short timeline videogame company THQ Inc. is proposing for the sale of its assets, Dow Jones Newswires reported yesterday. In rules filed with the bankruptcy court, THQ proposed selling its assets during a Jan. 9 auction with bids due by Jan. 8. THQ filed for chapter 11 protection with an offer from Clearlake Capital Group LP worth roughly $60 million in cash, loan forgiveness and assumed liabilities. It named the offer from Clearlake as the lead bid. DeAngelis in an objection filed yesterday said that "the time table set forth in the Motion denies parties in interest an opportunity to effectively participate in the proposed sale process."
