With THQ's bankruptcy asset sale now set to proceed with a piecemeal auction of the publisher's various studios, franchises and publishing contracts, third party companies invested in games that are currently in development under THQ are understandably nervous.

In the case of South Park Digital Studios, the rights holders of South Park, they've filed a legal challenge asserting that the terms of their deal with THQ prevents such a sale, claiming that they should instead be able to purchase the work done so far on the RPG South Park: The Stick of Truth, presumably to ensure that it is transferred to the right hands for its most prosperous chance at completion (via Polygon):

South Park Digital Studios objects to the proposed sale, stating in the document that "applicable law excuses Licensor from accepting performance from or rendering performance to a party other than THQ." Furthermore, even if the acquisition were possible, THQ has "not provided adequate assurance of future performance of the Deal Memo in the hands of a prospective purchaser." The sale would require South Park Digital Studios' consent because the elements being sold are owned and licensed by the studio.

According to the objection, the Deal Memo affords South Park Digital Studios "the option to acquire from THQ all elements of the South Park game and related products in the event of THQ's breach, provided that Licensor pays to THQ the actual costs incurred and paid by THQ."

In development at Obsidian Entertainment, South Park: The Stick of Truth was slated for release on PC, Xbox 360 and PlayStation 3 in THQ's 2014 fiscal year, which commences in April.