Comments on: GenCon Files for Chapter 11 http://www.tabletopgamingnews.com/2008/02/15/12614 Daily news, reviews and information for tabletop gamers of all interests. Tue, 02 Dec 2008 00:57:51 +0000 http://wordpress.org/?v=2.6.3 By: Auction-volunteer http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17854 Auction-volunteer Thu, 21 Feb 2008 13:51:26 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17854 I was one of twelve people that volunteered to run the charity auction at CIV last May, and I don't know what other promises were made to Make-A-Wish, but the auction itself only raised just about $140,000. Not 1 million. I'm not sure where they came up with that figure. It's really bad that they didn't pay them immediately, those of us who worked were there on our own dime. We paid for our own tickets to get to L.A., and did it for charity. Regarding GenCon Indy, as of yesterday it is still going to happen. I talked with one of the auction leaders, and there are no plans to halt the convention. I have pre-registered. See you all at the auction! I was one of twelve people that volunteered to run the charity auction at CIV last May, and I don’t know what other promises were made to Make-A-Wish, but the auction itself only raised just about $140,000. Not 1 million. I’m not sure where they came up with that figure. It’s really bad that they didn’t pay them immediately, those of us who worked were there on our own dime. We paid for our own tickets to get to L.A., and did it for charity.

Regarding GenCon Indy, as of yesterday it is still going to happen. I talked with one of the auction leaders, and there are no plans to halt the convention. I have pre-registered. See you all at the auction!

]]> By: tuco http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17700 tuco Mon, 18 Feb 2008 18:47:06 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17700 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. 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.

]]> By: keltheos http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17616 keltheos Sat, 16 Feb 2008 17:50:07 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17616 Most compaines that file for C11 still continue to run as normal. This isn't a shutdown, it's a protection from creditors during a restructuring. People hear Chapter XX and they automatically assume the company's going under. I think once Gencon has a chance to restructure their finances and figure out what is lucrative and what isn't (stupid non-con-attending Californians, I blame you for taking away a Gencon 5 miles from my house!) things will be fine. Most compaines that file for C11 still continue to run as normal. This isn’t a shutdown, it’s a protection from creditors during a restructuring.

People hear Chapter XX and they automatically assume the company’s going under. I think once Gencon has a chance to restructure their finances and figure out what is lucrative and what isn’t (stupid non-con-attending Californians, I blame you for taking away a Gencon 5 miles from my house!) things will be fine.

]]> By: LarkinVain http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17615 LarkinVain Sat, 16 Feb 2008 17:09:26 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17615 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. 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.

]]> By: Zac http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17614 Zac Sat, 16 Feb 2008 16:45:52 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17614 <blockquote>I certainly am not going to pre-register this year as it is entirely possible there might not be a Gen Con. </blockquote> I can't see why Gen Con Indy won't go through. Especially since the article specifically states that it will be going on and it would be insane for Gen Con to cancel their most profitable event when they need to get their finances in order. <blockquote>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.</blockquote> I've read that article and several others and none of them mention a value higher than $800,000 to a million US.

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

I can’t see why Gen Con Indy won’t go through. Especially since the article specifically states that it will be going on and it would be insane for Gen Con to cancel their most profitable event when they need to get their finances in order.

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.

I’ve read that article and several others and none of them mention a value higher than $800,000 to a million US.

]]> By: Psychotic Storm http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17612 Psychotic Storm Sat, 16 Feb 2008 15:38:08 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17612 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. 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.

]]> By: Keirof http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17611 Keirof Sat, 16 Feb 2008 14:42:04 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17611 Well, I'm still going unless Privateer Press decides not to attend. I guess that's one of the big challenges for GenCon now, to ensure that flagship brands like WotC publicly state they will attend. For non-D&D miniature gamers at GenCon, that means Privateer Press. Well, I’m still going unless Privateer Press decides not to attend. I guess that’s one of the big challenges for GenCon now, to ensure that flagship brands like WotC publicly state they will attend. For non-D&D miniature gamers at GenCon, that means Privateer Press.

]]> By: Phillip http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17610 Phillip Sat, 16 Feb 2008 14:38:28 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17610 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 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

]]> By: Tertius http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17609 Tertius Sat, 16 Feb 2008 14:11:02 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17609 Keirof: Assuming they do everything right, a Chapter 11 case can remain for years while they try to reorganize and get a plan of reorganization confirmed by the Court. It very well could be in Chapter 11 in August. They could also get dismissed or confirm a sale of assets quickly, and theoretically be done by August. Odds are, GenCon LLC NEEDS people to go to the convention to have any chance in a chapter 11 case. Keirof: Assuming they do everything right, a Chapter 11 case can remain for years while they try to reorganize and get a plan of reorganization confirmed by the Court. It very well could be in Chapter 11 in August. They could also get dismissed or confirm a sale of assets quickly, and theoretically be done by August.

Odds are, GenCon LLC NEEDS people to go to the convention to have any chance in a chapter 11 case.

]]> By: deanocware http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17608 deanocware Sat, 16 Feb 2008 13:45:03 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17608 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... 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…

]]> By: Keirof http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17605 Keirof Sat, 16 Feb 2008 04:26:52 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17605 Anyone know if the period of time that the Chapter 11 protection is in place extends beyond the GenCon Indy dates in August? Anyone know if the period of time that the Chapter 11 protection is in place extends beyond the GenCon Indy dates in August?

]]> By: Zac http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17604 Zac Sat, 16 Feb 2008 04:16:45 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17604 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. 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.

]]> By: Darkson http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17603 Darkson Sat, 16 Feb 2008 04:13:16 +0000 http://www.tabletopgamingnews.com/2008/02/15/12614#comment-17603 I wonder if it has something to do with this: http://reporter.blogs.com/thresq/2008/01/lucasfilm-sues.html I wonder if it has something to do with this:
http://reporter.blogs.com/thresq/2008/01/lucasfilm-sues.html

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