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Posts tagged rhode-island

38 Studios knew $75M loan wasn't enough to finish Project Copernicus

Emails surfacing from the legal fracas concerning 38 Studios and its loan from Rhode Island indicate that the studio knew the loan was not nearly enough to fully fund the game but decided to hide that from outsiders. 38 Studios Vice Chairman Thomas Zaccagnino allegedly sent one the damning email...

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Rhode Island Governor signs 38 Studios settlement bill

Following successful votes in the Rhode Island Senate and House of Representatives, a bill designed to help settle the 38 Studios fiasco was signed into law by Governor Lincoln Chafee yesterday. Lawmakers hope that the bill will encourage settlements by shielding defendants from further litigati...

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SOE's John Smedley blames Rhode Island government for 38 Studios closure

So who's at fault for the 38 Studios debacle? It's a question that's been thrown around a lot with no clear answers. But John Smedley of Sony Online Entertainment thinks that it's a pretty clear case of the state of Rhode Island getting involved in something it shouldn't have and then backing out a...

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Rhode Island House to vote on out-of-court settlements for 38 Studios fiasco

After a successful vote yesterday from the Rhode Island House Judiciary Committee, the full state House of Representatives is set to consider legislation next week that encourages out-of-court settlements in Rhode Island Commerce Corp.'s lawsuit against 38 Studios and its founder, Curt Schilling. ...

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Rhode Island senate passes 38 Studios legislation

A major hurdle in paving over the bad feelings, poor decisions, and millions of dollars in unpaid loans that 38 Studios caused when it defaulted two years ago has been crossed, as Rhode Island's Senate has approved legislation to settle the affair out of court. The Senate unanimously passed a bi...

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Legislation may pave a path for 38 Studios case settlement

Amazingly enough, the 38 Studios saga could be wrapped up soon if lawyers and the Rhode Island government agree on a path out of the legal swamp. The Associated Press is reporting that efforts are being made to settle the 38 Studios lawsuit out of the courts. Rhode Island's lawyer is encouraging...

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Legislation introduced to resolve 38 Studios lawsuit

The ongoing saga of 38 Studios and the state of Rhode Island continued on Wednesday courtesy of Governor Lincoln Chafee introducing a new piece of legislation to the state assembly. Specifically targeting the ongoing lawsuit, the legislation would be used as an inducement for the former company to ...

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Project Copernicus remains unsold at auction

Every game has its fans. Project Copernicus never launched and was never really much more than a twinkle in the eye, and yet someone out there really liked the game. Someone out there really loved Kingdoms of Amalur and was really hopeful that the 38 Studios property auction would give Project Cope...

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38 Studios asset auction may be delayed due to high demand

When companies die, their assets are sold to make back whatever money can be recovered. That's normal. But you wouldn't expect a great deal of interest in the intellectual property of a company that had worked on only two games and actually released just one of them. Apparently that expectation wou...

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38 Studios loan under SEC investigation

It seems as though we can't go more than a few weeks without hearing about some new complication related to the collapse of 38 Studios and the financial catastrophe it left in its wake. This week's news comes in the form of an SEC probe into the $75 million in loan guarantees offered to the studio ...

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