Bankrupt Index Corporation goes to auction with debt and fraud allegations looming
Atlus parent company Index Corporation will begin selling off subsidiary operations to help pay a ¥2.45 billion debt.
Index entered “civil rehabilitation proceedings” - the Japanese equivalent of bankruptcy – in June soon after being accused of fraud for allegedly inflating its annual revenues.
Settlements could reach as high as ¥15 billion, claim experts.
The procedures will be handled by M&A advisory firm GCA Savvian.
Both Atlus Japan and USA have issued statements claiming that the development and sales of their respective brands will continue.
Index is scheduled to be delisted on July 28.