Gen Con Files For Chapter 11

Heartless Gamer writes to tell us that Gen Con LLC announced late last week that they have filed for Chapter 11. This move will not affect the still profitable Gen Con Indy event which will still happen August 14-17, 2008. "This action became necessary as a result of significant unforeseen expenses associated with attempts to expand its core business to encompass externally licensed events. [...] The protections afforded by Chapter 11 will allow Gen Con to further its efforts to address its liquidity needs, preserve value for its creditors and explore strategic alternatives for the business." Evan writes to add that this is the result of LucasFilm suing GenCon.

This is a result of Lucasfilm litigation

Just FYI, this filing is a direct result of Lucasfilm suing Gen Con for a lot of deception regarding "Celebration IV" that occurred last year.

As taken from this story on TheForce.net [theforce.net], here is a summation of the charges:

1. Gen Con failed to uphold its legal obligations in terms of financial reporting, accounting and payments to Lucasfilm ($500,000 in damages)
2. Gen Con did not give auction proceeds to Make-A-Wish as they had agreed to do ($150,000 in damages)
3. Gen Con did not give Lucasfilm their share of the auction proceeds ($150,000 in damages)
4. Gen Con did this all unjustly ($150,000 in damages)"

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FYI,

Its a "to be determined 500k" meaning they don't know that it's accurate. I don't know what Gencon did/didn't do, but bankruptcy stays any legal matters....therefore, until they get out of bankruptcy (or judge allows the case to move forward), Gencon gets a get out of jail free (temporarily).

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A friend of mine went through a nasty divorce a few years back, and his wife was able to hold up the divorce proceedings for nearly a year by filing for bankruptcy. This made it so that she was able to collect separate maintenance checks (half his paycheck, since she "conveniently" quit her job a couple months before she filed) as well as live in the house he was paying for and forcing him to move out. Since the house and mortgage was in both their names, it was also tied up in the bankruptcy, which left hi

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I hear you there. People don't realize how bad nuclear families are....if you have kids but are domestic, you don't sign on things together either. People live in this 1950's "lets get married and have a SO + kids together"...get tied down, get screwed. I'm sure maybe a girl one day will motivated me to get married but I'd certainly prefer a domestic partnership that is not legally bound or something...at least you have LESS to worry about like that, although not "nothing to worry about".

I don't know how di

This was a triumph

I'm making a note here... HUGE SUCCESS!

Re:This is a result of Lucasfilm litigation

2. Gen Con did not give auction proceeds to Make-A-Wish as they had agreed to do ($150,000 in damages)

If true, which may well not be the case, that's got to have a pretty big load of bad karma attached to it...

d20

I guess Gen Con failed the saving throw.

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from the missed-their-saving-throw dept.

I guess Gen Con failed the saving throw.

Yeah, we got the joke the first time.

Anyone else hope

that this might, JUST might, get them to move GenCon back to Milwaukee where it belongs?

I mean, seriously - they bitched and moaned about "not enough hotel space" being the prime factor when by moving it just one weekend later they WOULDN'T HAVE TO COMPETE FOR HOTEL SPACE WITH FUCKING WISCONSIN STATE FAIR.

Then the very next year at GenCon Indy - "not enough space in the dealers' room, we're growing out of all the hotel space we can find in Indy..." bah.

Move it back to Milwaukee where it belongs. I miss taking my buddies to The Safehouse.

Re:Anyone else hope

As much as I love The Safehouse and its back door, you do realize that GenCon is called GenCon because it belongs in Lake Geneva, right? I fondly remember MECCA as much as the next guy, but to equate that location with GenCon denies the history of the event.

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Sometime around 1975, when I was about 13 years old, we were planning to visit my grandparents near Milwaukee one summer when I realized that the fabled GenCon would happen right in the middle of our visit. I managed to work out a ride to Lake Geneva for one day, a glorious day which still lives in my memory as THE GEEKIEST DAY EVAR. I won a copy of the SPI game StarForce in a raffle within moments of arriving, and it just got better from there.

So, yes: For some of us, Lake Geneva will always be the true

I really hope so.

The Milwaukee GenCons were a thing of legend. It blew my mind when they were moving it. If I were a spiteful person, I might be happy about this news. But I'd rather they just come back home. Where they belong.

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Um, GenCon Indy is the thing that keeps the rest of GenCon's failures running. It's been hugely successful in Indy, and from what I understand the locals are much friendlier. I can't attest to friendlier, having never attended elsewhere, but I can definitely say they are friendly. Restaurants tuning tvs usually on sports channels to sci-fi channel and decorating with old hall banners, special pins over at Hard Rock, that kind of thing. I had heard that things were somewhat less amicable in the old locat

If it's true

If what LucasFilm says of GenCon, then they need to be crushed. Stealing money from dying children? It would be very difficult to do something more scummy.

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I'm sure that perception is what LucasFilm is counting on. But is it true? Does anyone know anything about this?

Cue Martin Short nervously puffing on a cigarette.

while representine GenCon

"maybe the kids wanted to be robbed....maybe that was their wish..."

no idea why that image popped into my mind.

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Silly troll. Gen Con is one of the oldest, biggest, and most prestigious gaming conventions in the world. You know, Dungeon's and Dragons? Video games? Oh, why do I even bother, you're just being insulting to get a rise out of people. Even if it was a furry/anime/cosplay thing, why do you care? No one is rubbing your face in it, making you watch. Do you hate America? You know, land of the free? Do you hate that people are free to do what they want? Would you like to tell everyone what they can and can't do?

Re:What the hell is a Gen Con

Oh man, my finger slipped. You know, the apostrophe, it's so close to the... ah... Look over there! It's Bigfoot!

I thought you Australians had a sense of humor

Heh. You know, I've never been to one of those things? I love sci fi, fantasy, and gaming, but I wouldn't go to a convention. I can't stand fanatics of any stripe, and I don't like (all male) circle jerks.

You do get that I was making fun at tjstork's expense, right? Slashdot is not only for people who love America. I wasn't saying that at all. I respect other's opinions, IF that opinion is worthy of respect. I respect people's right to have and share an opinion, too, but if my opinion of their opinion is th

Re:Why am I not surprised?

Really? Do you know the people who run GenCon?

GenCon is owned by Peter Adkison, the creator of Magic and former CEO of Wizards of the Coast. He's a gamer through and through and one of the most approachable guys on the planet of his stature. Peter made plenty off of WoTC's sale to Hasbro to do whatever he wanted - GenCon wasn't lining his pockets by any stretch of the imagination. This is the same man who responded to my unsolicited emails for help starting a gaming company. He answered any question I had, connected me with his personal contacts, and in return - just suggested that I pay it forward. I don't know anything about GenCon's legal issues, but I suspect neither do you.

I don't know the depth of their dealings. But unless you do, perhaps you should refrain from making generalizations. God forbid you ever achieve such a level of success and find people throwing stones at you. Reserving judgement isn't nearly as sensational, but it's often warranted.

Re:Why am I not surprised?

I thought Richard Garfield [wikipedia.org] created magic.

Re:Why am I not surprised?

ALL "conventions", no matter what industry/hobby they are about, are run by thieves[...]Seriously.

That's because it takes too long to level a Paladin.

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Well how do you know all convention organizers are thieves and liars? Do you know them? Just because some conventions are questionably run doesn't mean all of them are. Every aspect of PAX isn't personally run by Gabe & Tycho, but they still call the shots. So if there was anything shady going on they would, and have, excise it immediately.

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Peter Adkison owns GenCon.

Hasbro owns Dungeons & Dragons.

Hasbro bought Peter Adkison out of Wizards of the Coast (who owned D&D) over half a decade ago.

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ummm... for what? For tuning over their property to Gen Con to be auctioned off (with a big chunk going to charity)

This part of the lawsuit is pretty cut and dried. LucasFilms gives Gen Con LLC property, property is auctioned for $$, $$'s are not distributed as agreed before auction.