Slashdot Mirror

← Back to Stories (view on slashdot.org)

Loki Speaks up on Chapter 11

Posted by CmdrTaco on from the words-of-hope dept.

Traivor writes "Loki sent an email to all its customers about the chapter 11 filing. The most interesting bit is they claim to be making money." I've been rooting for Loki forever (and I've taken to buying all their releases even tho I don't have time to play them lately ;) Anyway, I've atached the email to this story so you can read it if you're curious.

The following is an email sent by Scott Draeker of Loki

Dear Friend of Loki:

As you may know, on August 3, 2001, Loki filed a Chapter 11 reorganization. As our valued customer, we wanted to let you know why we have elected to reorganize and how, if at all, it will impact our ongoing business.

Under US law there are two kinds of bankruptcy:

  1. Chapter 7 is a liquidation. We have not filed a Chapter 7 and have no intention of doing so.
  2. Chapter 11 is a reorganization. This will allow us to deal with our creditors fairly and equitably and at the same time continue to operate the company. We are still shipping products and porting new games and expect to be doing so for a long, long time.

Most of the debts we are restructuring through the Chapter 11 are well over a year old. They represent mistakes made by a young company. We've learned from our mistakes and become cash positive. Going forward we have every confidence that Loki will continue to be successful and grow.

We cannot say for certain how long Loki will remain in Chapter 11. It depends on many factors. However we do intend to bring the process to a conclusion as quickly as possible. Once our plan of reorganization is accepted by the court, our creditors will receive an agreed upon settlement and all other prepetition obligations will be fully and finally discharged.

During and after the reorganization your orders will continue to be honored. We will continue to provide end user support, bug fixes and new products. Negotiations are in progress to guarantee Loki a steady stream of additional AAA games to bring to Linux.

Most importantly, we'd like to thank each of you for your support over the years. Without our customers, we are nothing. The outpouring of support we have received in the last few days has been overwhelming, and we will continue to do everything we can to merit that support.

Kind regards,

Scott Draeker
President, Loki Software

3 of 216 comments (clear)

  1. I can't wait for more AAA games by jandrese · · Score: 1, Troll

    I'm on the edge of my seat waiting for TripTic Blaster and Gran Turismo Safe driving edition.

    --

    I read the internet for the articles.
  2. On the other hand by re-Verse · · Score: 0, Troll

    I've been dissapointed by Loki once recently. I was thinking of moving from windows to linux on my home gaming system, figured i'd be able to play tribes 2 in linux, since i had heard it was done. I didn't realize the windows cd isn't patchable (like q3a is). To make things worse, Loki only sells complete CDs, not patches. And after spending 70$ on the win version, i figured i may as well say in win than move to linux and pay it again. If he had, for example, been selling a 15 dollar patch, i may have migrated.

    Ideally, i'd like game companies to follow id softwares q3a style and make everything cross platform.

  3. It was a flawed model, anyways by Wind_Walker · · Score: 0, Troll
    Loki took games that had already been released for Windows -- games that had been out for months -- and ported them to Linux. Linux doesn't have many games for it, so if you like to play computer games, you've already got another computer that runs Windows for them, or you dual boot your Linux computer. And if there's a game that you really wanted, you've already bought the Windows version -- months before the Linux port comes out. When the Linux port does finally come out, you may have moved on to the next game, or you may just not feel like paying for the game *again*.

    Had Loki been able to release Linux ports of games at the same time as the Windows versions, things may have been very different. I'd certainly have bought some of the games if I didn't have to wait.

    Also note that Mac ports for games are similar, but they have one big difference -- a Mac cannot run modern PC games (PC emulators aren't quite good enough) but a Linux PC could always be dual booted into Windows. So a Linux user with a PC could always install Windows on another partition if he *really* needed it.

    Because of this, the market for Mac games, even Mac ports of games that have been out for months on Windows boxes, is a good deal larger than the market for Linux ports of old Windows games.