Acclaim, as we previously reported, is in process of bankruptcy. What wasn't clear earlier, however, was just what flavor of bankruptcy the company would file, as well as just what would happen to its still-unreleased titles.

A company can file two primary forms of bankruptcy: Chapter 11, which allows the company to continue trading and have a chance at financial recovery; and Chapter 7, which is essentially a plan to liquidate assets and close. Acclaim has chosen filed Chapter 7.

As reported today in GamesIndustry.biz, not only will Acclaim seek liquidation of its assets and business closure, but at least one highly-anticipated title -- Juiced -- will survive the fallout.

According to the GI.biz article, the street racing title planned for PS2, Xbox, and PC was financed and managed by development funding firm Fund 4 Games, leaving Juiced unaffected by the bankruptcy. Fund 4 Games owns the rights to the title, rather than Acclaim, and will seek a new publisher.

Obviously, it's not clear just when Juiced will finally hit stores, though we're glad to hear of the game's survival. Stay tuned for more as the situation develops. Source: Gameindustry.biz"