cdv Software Entertainment has released a statement citing Southpeak Interactive’s non-payment of a lawsuit settlement as the reason why it has been forced to file for preliminary insolvency. The company, now being run by a court-appointed administrator, is “proactively working on solutions to restructure the company,” while it has also entered into discussions with possible investors and purchasers. cdv continues to run as normal for the time being, and its US and UK subsidiaries remain unaffected.