Fionn Profile Blog Joined October 2009 United States 20365 Posts Last Edited: 2013-06-29 09:52:07 #1



Having been around for over a decade, STX Soul has been one of the most prominent teams in e-sports history, having coached some of the best Brood War and now SC2 players in history, such as Julyzerg, Calm, and most recently Innovation. The rumor of STX disbanding comes from their current financial situation, having recently filed for bankruptcy.



On June 29 2013 07:50 andyrau wrote:

Relevant to the tangent this thread has taken in the past page or two, STX Corp recently filed Chapter 15, Title 11 in the United States, which is similar to filing Chapter 11 for domestic companies.

Obviously, STX is Korean-held so they were forced to use Chapter 15 instead of 11. On that note, its (Korean) creditors may take majority shareholder because nobody was willing to buy up STX PanOcean's debt, so that subsidiary, along with the company itself, may soon be out of chaebol family's ownership.

Financial downturn during the first quarter of 2013 was caused by a global decline in demand for shipping in conjunction with the financial strain of an overabundance of unused ships.



source Relevant to the tangent this thread has taken in the past page or two, STX Corp recently filed Chapter 15, Title 11 in the United States, which is similar to filing Chapter 11 for domestic companies.Obviously, STX is Korean-held so they were forced to use Chapter 15 instead of 11. On that note, its (Korean) creditors may take majority shareholder because nobody was willing to buy up STX PanOcean's debt, so that subsidiary, along with the company itself, may soon be out of chaebol family's ownership.Financial downturn during the first quarter of 2013 was caused by a global decline in demand for shipping in conjunction with the financial strain of an overabundance of unused ships.



Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.



Having been around for over a decade, STX Soul has been one of the most prominent teams in e-sports history, having coached some of the best Brood War and now SC2 players in history, such as Julyzerg, Calm, and most recently Innovation. The rumor of STX disbanding comes from their current financial situation, having recently filed for bankruptcy.Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs. On June 29 2013 16:59 mongmong wrote:

Group A : 양희수P / Pigbaby / 8게임단



Group B : 최종환Z / CoCa / 前SlayerS



Group C : 백동준P / Dear



Group D : 박진영P / EG.JYP / EG-TL



Group E : 임재현Z / Mamuri / SK텔레콤



Group F : 지동원T / kOp / 삼성전자



Group G : 김대엽P / Stats / KT



Group H : 서태희T / Journey / SK텔레콤



ㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡㅡ



i got this from Fomos:players who made it through the qualifiers. people on fomos are speculating that GomTv intentiaonally left out STX next to Dear.... but everyone else has a team name .. interesting... I also read an article saying that STX stopped sponsoring a football team due to financial problems they are facing at the moment 0_0...



On June 24 2013 14:47 Clefairy wrote:

Apparently Shuttle said on his Afreeca stream that Calm is going to the army soon because STX is about to disband We might not get a Proleague next season if it's true because Team 8 will probably disband as well and EG-TL's participation next season isn't decided. Apparently Shuttle said on his Afreeca stream that Calm is going to the army soon because STX is about to disbandWe might not get a Proleague next season if it's true because Team 8 will probably disband as well and EG-TL's participation next season isn't decided.





Again, currently these are all rumors, but seeing as STX Soul are a prominent team and have been around forever, I thought a separate thread would be good for discussion and any other news/information that could come out in the future involving STX. Again, currently these are all, but seeing as STX Soul are a prominent team and have been around forever, I thought a separate thread would be good for discussion and any other news/information that could come out in the future involving STX. Writer https://twitter.com/FionnOnFire

herMan Profile Joined November 2010 Finland 1916 Posts #2 Well, I could see this situation being similar to Azubu. I just don't see a SC2 team surviving during financial hardships.

Dodgin Profile Blog Joined July 2011 Canada 38851 Posts #3 We should get that link to the article saying STX dropped their sponsorship of a football team, if that can be confirmed then it would give a lot more weight to the possibility of the sc2 team disbanding.

Fionn Profile Blog Joined October 2009 United States 20365 Posts #4 In other news, HoSeo is still alive. Writer https://twitter.com/FionnOnFire

rift Profile Blog Joined September 2007 1817 Posts #5 these rumors generally turn out to be true

Asha Profile Blog Joined November 2010 United Kingdom 29818 Posts #6 On June 29 2013 18:23 Fionn wrote:

In other news, HoSeo is still alive.



HoSeo will be the #1 team in the end, if only by virtue of stubbornly refusing to bow to the pressures of the world. HoSeo will be the #1 team in the end, if only by virtue of stubbornly refusing to bow to the pressures of the world. #DeleteGyro

DifuntO Profile Joined November 2011 Greece 2374 Posts #7 On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars All I do is Stim.

partydude89 Profile Blog Joined August 2012 1835 Posts #8 with stephano leaving and idra gone, could we possibly see EG Innovation? #1 Official Hack Fan|#2 Bomber behind Wintex.|Curious|Life|Flash|TY|Cure|Maru|sOs|Jin Air Green Wings fighting!|SBENU Fighting!|

bo1b Profile Blog Joined August 2012 Australia 12625 Posts #9 On June 29 2013 18:29 DifuntO wrote:

Show nested quote +

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant. Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant.

Maxilicious Profile Joined May 2011 221 Posts #10 On June 29 2013 18:30 partydude89 wrote:

with stephano leaving and idra gone, could we possibly see EG Innovation?



I doubt he will move to a non-Korean team. Specifically, I think he's going to join a Kespa team if STX is to be disbanded. I doubt he will move to a non-Korean team. Specifically, I think he's going to join a Kespa team if STX is to be disbanded. http://terrancraft.com/

Dodgin Profile Blog Joined July 2011 Canada 38851 Posts #11 On June 29 2013 18:31 bo1b wrote:

Show nested quote +

On June 29 2013 18:29 DifuntO wrote:

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant. Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant.



Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000? Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000?

DifuntO Profile Joined November 2011 Greece 2374 Posts #12 On June 29 2013 18:31 bo1b wrote:

Show nested quote +

On June 29 2013 18:29 DifuntO wrote:

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant. Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant.



That's 9mil dollars?Ok then,it looked like 9bn to me. That's 9mil dollars?Ok then,it looked like 9bn to me. All I do is Stim.

edgeOut Profile Joined February 2013 United States 945 Posts Last Edited: 2013-06-29 09:36:03 #13

This is a rumor for like couple of years, no news worthy information also, not worth a thread. Fuck you Zealously! For the fuck you give to those players.

Looms Profile Joined May 2010 United States 4569 Posts #14 After STX Pan Ocean's recent bankruptcy filing, the STX Corporation has decided to focus a majority of its resources into its shipbuilding operations, STX Offshore and Shipbuilding, in an attempt to turn the company around. They are currently trying to sell a lot of the other assets that they acquired in recent years. Obviously, this would indicate that STX Soul is expendable. Also, other people have indicated that they have ceased their football team sponsorship.

Looms Profile Joined May 2010 United States 4569 Posts Last Edited: 2013-06-29 09:38:43 #15 On June 29 2013 18:29 DifuntO wrote:

Show nested quote +

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars



no 10+ trillion ₩ no 10+ trillion ₩

bo1b Profile Blog Joined August 2012 Australia 12625 Posts #16 On June 29 2013 18:34 Dodgin wrote:

Show nested quote +

On June 29 2013 18:31 bo1b wrote:

On June 29 2013 18:29 DifuntO wrote:

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant. Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant.



Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000? Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000?

Because 9 billion won is equivalent to 9 mil? Less in fact. Because 9 billion won is equivalent to 9 mil? Less in fact.

ACrow Profile Joined October 2011 Germany 6578 Posts #17 On June 29 2013 18:29 DifuntO wrote:

Show nested quote +

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

No, it is dollars actually, their debt is estimated to be at around 9 to 12 billion $. In Won, this would accordingly measure in trillions.

They have been in trouble for a while now, tbh. No, it is dollars actually, their debt is estimated to be at around 9 to 12 billion $. In Won, this would accordingly measure in trillions.They have been in trouble for a while now, tbh. Get off my lawn, young punks

Dodgin Profile Blog Joined July 2011 Canada 38851 Posts #18 On June 29 2013 18:37 bo1b wrote:

Show nested quote +

On June 29 2013 18:34 Dodgin wrote:

On June 29 2013 18:31 bo1b wrote:

On June 29 2013 18:29 DifuntO wrote:

On June 29 2013 18:19 Fionn wrote:





Besides being reportedly having a debt over $9,000,000,000, there has been some other tidbits that people believe are signs that STX Soul could be on their last legs.







That's should be ₩ right?,not dollars That's should be ₩ right?,not dollars

Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant. Its worth 23bn, 9mil in debt for a company of that size is frankly irrelevant.



Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000? Why would STX file for bankruptcy over a $9,000,000 debt if they are worth $23,000,000,000?

Because 9 billion won is equivalent to 9 mil? Less in fact. Because 9 billion won is equivalent to 9 mil? Less in fact.



That doesn't answer my question at all, I'm asking why they would file for chapter 15 if their debt is less than 0.001% of their company's value? That doesn't answer my question at all, I'm asking why they would file for chapter 15 if their debt is less than 0.001% of their company's value?

GolemMadness Profile Blog Joined September 2010 Canada 8533 Posts #19 Not again... :-/ http://na.op.gg/summoner/userName=FLABREZU

Serimek Profile Joined August 2011 France 2176 Posts #20 I want to believe to a merge between GSTL and ProLeague that will become inevitable eventually if teams starts to close here and there SC2 is the best game to watch and was the best to play before I grew old and slow...

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