A Delaware court has approved THQ’s liquidation plan, signalling the end of the studio’s bankruptcy case, as well as its existence.

Bloomberg reports that the plan will pay THQ’s numerous creditors from the proceeds its asset auctions, which totalled about US$78 million.

Its creditors are estimated to have between US$143 million to US$184 million in claims, and are expected to recover between 20 and 52 per cent of what they’re owed, dependent on their claim size, as well as whether the claims of European subsidiaries will be allowed.

Last December the California-based videogame developer and publisher was forced to seek bankruptcy protection, at which time it had assets of US$204.8 million and debt of $248.1 million.