February 16th, 2008

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GenCon LLC Files for Chapter 11

This is a preventive measure to protect themselves whilst they sort out financial problems caused by the Star Wars convention they run (and are currently being sued for $1million by LucasFilm for breach of contract or something I believe).
It shouldn't really affect GenCon Indy and the UK and other shows are run by third-parties under license anyway. I'd imagine they'll all be fine.



SEATTLE (February 15, 2008) Gen Con LLC announced today that it has filed for Chapter 11 protection in the United States Bankruptcy Court for the State of Washington. This action became necessary as a result of significant unforeseen expenses associated with attempts to expand its core business to encompass externally licensed events. Gen Con's flagship show, Gen Con Indy, remains a vibrant, profitable event. Gen Con Indy will take place as scheduled August 14–17, 2008, in Indianapolis, Indiana.

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. "Because the fundamentals of our business are strong; and because our debt problems are challenges mostly linked to one-time events, we feel confident that the profile of our company will benefit under Chapter 11 and come out strong in the end," said Peter D. Adkison, CEO of Gen Con.

Chapter 11 refers to the section of the U.S. Bankruptcy Code that provides for court-supervised restructuring of companies as they continue to operate normally. This proceeding is intended to help companies to become stronger financially.

Gen Con LLC will continue to operate without interruption during this process and looks forward to an expeditious resolution to the short-term challenges and the ability to focus entirely on producing Gen Con Indy, The Best Four Days in Gaming. International Gen Con events are unaffected by this situation and will continue to operate as scheduled.

About Gen Con

Gen Con, LLC produces the largest consumer fantasy, sci-fi and adventure game convention in North America. Itts operations include Gen Con Indy and licensees for European and Asia Pacific Gen Con shows. It was acquired in 2002 by former CEO and founder of Wizards of the Coast Peter Adkison, who solely owns the company headquartered in Seattle, Washington. Gen Con is a consumer and trade experience dedicated to gaming culture and community. For more information visit the website at www.gencon.com.
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House Update

We had a second veiwing on two houses today and have put an offer in on the really nice one in Frien Barnet/North Finchley which, subject to the appropriate checks and payments, has been accepted.

Dave, Natasha and myself met the landlord in a pub in East Finchley this afternoon for a chat so he could meet us - although the estate agent is actually managing the property (as the landlord lives in Jersey). He was a really nice guy, very easy going and about our age.

So fingers crossed everything goes smoothly and we'll start to move in the next few weeks. Jade is moving into ehr new home on Thursday so Dave and myself will be the only ones here for a week to two whilst we transfer everything over to the enw house and get phone lines, internet, etc sorted for our arrival.

A new chapter begins and I'm very excited. I'll make a post about the new housemates at somepoint when things have settled a bit :)

I feel a lot better now things have been resolved though.