CDV AG files for preliminary insolvency

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Publisher CDV's German parent company CDV Software Entertainment AG has filed for preliminary insolvency, MCV can reveal, in a move that it hopes will secure the future of the company.

A source close to the situation speaking under strict anonymity has confirmed that affiliate companies such as CDV UK Ltd, CDV Software Entertainment USA and CDV Deutschland GmbH remain unaffected.

The cause of the move stems mostly from CDV's recent legal spat with Southpeak – a case that CDV won, but to date the company claims to have to have not received any of the money Southpeak had been ordered to pay.

For the time being CDV AG remains fully operational, with management and administrators actively seeking new investment or a possible buyout. A number of options are reportedly being considered.