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Realtime Worlds Enters Into "Administration"

Posted by Suzie Ford on Aug 17, 2010  | Comments

Realtime Worlds Enters Into "Administration" -

Realtime Worlds, developers of All Points Bulletin, has entered "into administration" which has been confirmed by Gamasutra. Entering into administration is indicative of the creditors seizing assets. The matter has not yet been adjudicated in court so it appears it is one step ahead of all-out court ordered bankruptcy.

A staffer for the PR house representing UK-based corporate recovery group Begbies Traynor said in a phone call that the firm is handling Realtime Worlds' administration, confirming reports that originally appeared on UK-based Develop Tuesday morning. An official statement is forthcoming, the rep said.

As administrator, Begbies Traynor will decide whether Realtime Worlds can continue on as a company in light of financial difficulties, or more likely if the studio can recover more money by selling off assets or liquidating entirely.

At this point, Gamasutra is reporting that calls to Realtime execs have not been returned.

Read the full report at Gamasutra.

Update (Thanks, Pyrostasis!) from the APB web site:

As you may or may not have already read, RTW has recently announced that it has entered into administration. When reading this news, you’ll probably be wondering what effect this will have on you, the players.

Well, the good news is that it doesn’t. APB will continue to run, receive updates and is completely accessible. There will be no disruption to the service.

For more information on updates, remember to visit the ‘In Development’ section of the APB forums, as well as follow us on Twitter and Facebook.

Suzie Ford / Suzie is the Associate Editor and News Manager at Follow her on Twitter @MMORPGMom
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