Doubt it. Lucas only wants a million. I think it might have to do with some costs associated with other shows they have had fail including the Gen Con So Cal show.

Indy sounds as if it is still going on and it is so wildly popular that I can’t see them coming out of this.

Well I think its exactly related to the lawsuit. Lucas may have only asked for $1 million but if you read the article carefully it appears that may have only been what was owed LUCAS for its marketing efforts. The actual amount owed to the charities from the auction could easily exceed $1 million. This is an interesting filing considering Gen Con, LLC also runs Gen Con in England and Paris which wouldn’t necessarily be subject to any U.S. Bankruptcy Court protection so any monies owed to those creditors could still be pursued in Europe, obviously if they try to reach anything here in the U.S. then the Bankruptcy court would have jurisdiction.

Unfortunately, once you go into a Chapter 11 you never know how you are going to come out (if you come out) no matter how optimistic you are. Most commercial contracts actually contain clauses that provide if a bankruptcy filing occurs ALL obligations under the contract become due and the contract itself becomes void. This means any vendors looking to bail on Gen Con Indy or get a better deal out of Gen Con, LLC are now free to walk away just based on the filing. Another problem with a bankruptcy is it scares the heck out of any creditors. They all demand dealing on a cash only basis and as such Gen Con may have trouble getting the Indiana Convention Center without paying UP FRONT for the whole weekend.

This is understandable since as a creditor you can’t be sure where you are at in line to get paid once others start showing up in bankruptcy court. I would also be afraid that any payments to creditors - such as the Indiana Convention Center - would have to be cleared by the bankruptcy court and as such permission might be withheld if other creditors object.

I certainly am not going to pre-register this year as it is entirely possible there might not be a Gen Con.

Guess I’ll be booking the five days at ORIGINS…

GenCon UK is NOT run by GenCon LLC. It merely licences the name ‘GenCon’ and is run by a company called ‘Horseman Events Limited’.

Phil

even thought I am not going (never was, other continent and all that).
I find oxymoron, to see people saying they liked it, but once the Con needs the more (now I suppose) they turn it down, if you liked something support it if you didn’t don’t.

I’m pretty sure there will be a GenCon. Like Zac said it’s a big money maker. Creditors want their money and if Indy doesn’t happen they lose a big chunk of what could be paid to them.

Would I be terribly off-base to assume that GenCon has probably already paid at the very least a deposit on the convention center for this year’s GenCon? If they’ve already got a date I can’t see them not having the convention center reserved for those dates which usually requries some percentage or flat fee for them to hold those dates. Most likely they have the thing reserved at least a year in advance. I wouldn’t worry about GenCon being cancelled this year. Next year would be the one to watch, I think.