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Kalisto placed in stasis

French developer uses up ninth life

French developers Kalisto, who have been struggling against the tide since announcing a near 95% slump in revenues last spring, got a last minute stay of execution this week. They had filed for bankruptcy a couple of weeks ago after French stock market regulators blocked a refinancing plan, but on Thursday it was revealed that the company has been placed under legal protection for six months by Bordeaux's commercial courts. During this time their liabilities will be frozen, and chairman Nicolas Gaume told Reuters that he was hoping to "continue to invest as we have up till now and devote ourselves to the necessary restructuring". It's not clear whether this will be enough to save the company in the long run or to raise interest in a possible take-over, but it does at least mean that the company may now get to finish some of its remaining projects, such as the 3D platformer Halloween for Wanadoo. Related Feature - Kalisto files for bankruptcy

Source - Reuters

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