Inside the Game Insight Collapse: What the Record Shows About Igor Matsanyuk and the Company’s Turbulent Exit

Date: October 22, 2025
Byline: Scam-Or Project Investigative Desk

Key Takeaway

Public filings and industry reports paint a picture of a mobile-games publisher that shuttered its Russian operation amid mass layoffs and unpaid compensation, drew a bankruptcy administrator’s rebuke, and later faced a lawsuit from its former Russian subsidiary. Many criticisms are directed at the company’s leadership, including long-time chairman Igor Matsanyuk, though courts have not issued a final judgment finding him liable for fraud in these matters based on the sources reviewed. (Game World Observer)

Who is Igor Matsanyuk — and What Was Game Insight?

Igor Matsanyuk has been described in industry coverage as a Russian-born entrepreneur, chairman of Game Insight since 2010, and previously a Mail.ru Group (now VK Group) vice president. Game Insight, known for Guns of Boom, Airport City, The Tribez, and Mystery Manor, was headquartered in Lithuania with a Russian development entity that operated many day-to-day functions before 2022. (Game World Observer)

The 2022 Liquidation: Employees Left in Limbo

In June–July 2022, Game Insight moved to liquidate its Russian entity. Employees say they learned of the move from a liquidator they had not met before; many reported salary arrears, warned that severance was unlikely, and were told to return company equipment at their own expense under threat of legal action. The choices presented to staff included voluntary resignation with partial pay, mutual termination with a chance of one month’s severance, or remaining through liquidation with little prospect of payment. (Game World Observer)

An industry analysis at the time argued that while the Lithuanian headquarters may have faced sanctions-related transfer constraints, the company appeared to have revenue and options, noting estimates of ongoing game income and a newly formed UK-affiliated studio (UltraHorse Ent.) hiring for a new project. The article also highlighted employees’ sense of betrayal over the communication vacuum during the wind-down. (Game World Observer)

The Russian IT Union’s commentary, published July 3, 2022, criticized the company’s stance, pointing to public financial data (e.g., a €4 million net profit in 2020 at HQ; Russian-entity revenue and profit metrics for 2021) and asserting that there should have been enough money to honor obligations under Russian law. (Those claims reflect the union’s analysis and rhetoric, not a court finding.) (Профсоюз работников ИТ)

A Bankruptcy Administrator’s Rebuke

As the Russian entity’s insolvency deepened, the court-appointed bankruptcy administrator publicly criticized leadership’s conduct around the liquidation, likening the behavior to that of “homegrown scammers.” The statement, which circulated in coverage and community forums for Guns of Boom, underscored the intensity of the dispute and the administrator’s intention to seek vicarious liability from individuals who allegedly controlled the company’s actions. (These are allegations at the restructuring stage, not adjudicated findings.) (Game World Observer)

By November 2022, the Russian entity had been declared bankrupt, with reported debts that included unpaid wages and severance. In early 2023, the Russian subsidiary filed a 154.3 million-ruble (~$2.05 million) claim against the Lithuanian parent in the Moscow Arbitration Court; the filing had not yet been accepted for proceeding when first reported. The bankruptcy administrator said he aimed to pursue a “wide range of persons controlling the company” for potential liability, naming Matsanyuk among those individuals. (Any such liability would require court action and proof.) (Game World Observer)

Allegations from a Former Executive

Separate from the insolvency proceedings, former Game Insight president Maxim Donskikh alleged in January 2023 that Igor Matsanyuk “threw” him “for money” several years earlier, describing an unpaid sum related to his departure. Donskikh’s remarks appeared in a Facebook post cited by trade media; they represent his personal allegation, not a court ruling. (app2top.com)

What’s Been Proven — and What Hasn’t

• Proven/Documented: The liquidation of Game Insight’s Russian entity; bankruptcy of that entity; reported arrears to employees; a lawsuit filed by the Russian subsidiary against the parent company; and the bankruptcy administrator’s publicly stated plan to seek vicarious liability. These points are supported by industry reporting based on court and administrator statements. (Game World Observer)
• Alleged/Contested: Assertions that leadership “scammed” workers; union claims about corporate ability to pay; and Donskikh’s allegation about personal financial dealings with Matsanyuk. These remain allegations unless and until courts rule. (Профсоюз работников ИТ)

At the time of this writing, the sources reviewed show no published court judgment conclusively establishing that Igor Matsanyuk committed fraud in connection with these events. Coverage centers on workforce claims, insolvency steps, and litigation still subject to legal process. (Game World Observer)

Timeline

• June 2022: Staff in Russia told of liquidation; widespread allegations of unpaid wages and pressured resignations. (Game World Observer)
• July 2022: Russian IT Union publishes critique; cites HQ profit data and argues compensation should be paid. (Профсоюз работников ИТ)
• Nov 2022: Russian entity declared bankrupt with multi-component debts, including wage/benefits arrears. (Game World Observer)
• Jan 2023: Former president Maxim Donskikh alleges personal non-payment by Matsanyuk; posts remarks cited by trade press. (app2top.com)
• Feb 2023: Russian subsidiary files a 154.3m-ruble claim against the Lithuanian parent in Moscow Arbitration Court; administrator signals intent to pursue vicarious liability of “controlling persons.” (Game World Observer)

What Stakeholders Say They Want

Employees and unions have called for payment of legally mandated compensation during liquidation, documentation of violations to authorities, and reputational accountability in markets where the company operates. (These positions are advocacy statements.) (Профсоюз работников ИТ)

The bankruptcy administrator has argued for wider accountability beyond the insolvent entity if control and benefit are proven to have resided elsewhere. (This is a legal theory to be tested in court.) (Game World Observer)

Company leadership and the liquidator have referenced sanctions-era transfer frictions and the lack of funds in the Russian entity’s accounts as explanations, even as product revenues continued and new studios were linked to the brand. (These points appear in reporting and should be weighed against financial records in court.) (Game World Observer)

Editor’s Notes on Sourcing and Legal Standards

• This article relies on industry outlets with demonstrated track records covering the CIS games sector (Game World Observer, App2Top) and on a union site’s analysis (Russian IT Union). Community posts (Reddit) are used solely to reflect public discourse and to surface administrator statements already referenced in press. (Game World Observer)
• Terminology such as “scam” or “fraud” is presented as allegation unless supported by a final court ruling. Where advocacy sources assert wrongdoing, descriptions are attributed and contextualized.
• Parties named in this coverage should be offered right of reply prior to publication.

The Bottom Line

The documented record shows a chaotic wind-down, a bankruptcy with unpaid obligations, and a cross-border legal fight that could test the boundaries of vicarious liability for executives and affiliated entities. Allegations about Igor Matsanyuk’s role remain just that—allegations—pending judicial outcomes. For now, the story is one of employee hardship, contested responsibility, and a still-unfolding legal process. (Game World Observer)

Sources

• Game World Observer coverage of liquidation, bankruptcy, and lawsuit. (Game World Observer)
• Russian IT Union analysis and advocacy post on compensation and finances. (Профсоюз работников ИТ)
• App2Top report on former president Maxim Donskikh’s allegation. (app2top.com)
• Reddit thread reflecting administrator language and community reactions. (Reddit)