Announced today, Games Services, the parent company of ESWC and other eSport properties, is in the process of liquidation.

The released statement from Games Services on their website stated:

Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009. In consequence, all the employees and managers have been relieved from their duties and laid off April 2nd, by the adjudication. The process of liquidation, which is starting this week, will notably organize the potential trade-in or resale of the company’s assets including the Electronic Sports World Cup and Overgame.

Reported earlier, reports surfaced about the financial difficulty and uncertainty surrounding Game Services and ESWC, through the postponement of the Grand Finals.

One issue that springs from the company's liquidation, aside from the loss of a major eSports figure, is whether or not prize money will ever be delivered.

ESWC participants must wait one year before collecting their prize money, so it is anyone's guess as to if and how that can be arranged given the circumstances.

It is unclear how much Games Services owes, or where their assets might go after the process is completed.

The ESWC Asia Masters, taking place in Korea, is reportedly still taking place, as it is already financed through local sponsors. That event will be held May 2nd to 5th.

At this time, Games Services and ESWC representatives have been unavailable for comment.

GotFrag will be continuing to update on the proceedings.

Source: Against All Authority