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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 ...

1 year ago 0 Comments
September 11, 2013 at 6:00PM
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38 Studios collapsed upon itself in a heap of flaming disaster last year, and Rhode Island taxpayers ended up stuck with the bill. The state used a $75 million loan, acquired through the sale of taxable bonds, to convince 38 to operate within its borders, and RI is now on the hook for around $89 mi...

1 year ago 0 Comments
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To pay back or not to back, that is the question that Rhode Island is exploring after being saddled with $112.6 million in combined debt and interest when 38 Studios went kaput, taking Project Copernicus with it. RI governor Lincoln Chafee still believes that lenders should get their due according ...

1 year ago 0 Comments
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Now with a patent sale, new financing and asset offloads under its belt, Kodak's homing in on when it might emerge from Chapter 11 bankruptcy. In January, the imaging giant predicted it might finally exit its financial default by mid-2013, and now it's filed paperwork with a New York court indicat...

2 years ago 0 Comments
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Curt Schilling is most recently famous for failing spectacularly at using loans from Rhode Island and investors to create a Kingdoms of Amalur MMO. As the founder of the now-bankrupt 38 studios and someone who personally guaranteed some $12 million worth of loans related to the studio, Schillin...

2 years ago 0 Comments
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It's now been revealed that OnLive's debt was somewhere between $30 million and $40 million before last week's collapse and subsequent reincarnation. Last week, the California-based company's assets were transferred to Insolvency Services Group. Those assets were then sold on to Lauder Partners, LL...

2 years ago 0 Comments
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As expected, May 14th is indeed a dark day for LightSquared. The company has just filed paperwork in order to initiate Chapter 11 bankruptcy proceedings in Manhattan's US Bankruptcy Court, effectively killing its dream of providing a high-speed mobile wireless network to upwards of 260 million peo...

2 years ago 0 Comments
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Carl Icahn is no stranger in this field -- he's been caught tussling with Motorola and bidding Yahoo's board adieu in recent years -- and most recently, he's managed to get caught up in one of the bigger wireless whirlwinds this planet has ever seen. Just months after Icahn swooped in to buy some ...

2 years ago 0 Comments
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Sprint is looking to sell $2 billion in notes to raise cash, a large chunk of that likely earmarked for network upgrades. The money will come in handy too, as making the leap from WiMAX to LTE won't be cheap. Then, there's its partner Clearwire. After Sprint's board shot down a quest to snatch up M...

3 years ago 0 Comments
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Local news outlets are reporting that Nokia is in trouble with the Romanian government over unpaid debts amounting to $10 million. The outstanding sum supposedly relates to customs bills racked up by trucks removing Nokia's equipment from its abandoned Cluj factory. A Nokia spokesperson just conf...

3 years ago 0 Comments
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Who can forget the Plastic Logic Que proReader -- a textbook study on the vaporous gadget. Start with an incredible (but truthful) claim to have developed plastic semiconductors that could be used to fabricate flexible e-reader displays. Then follow up the breakthrough with the all-important consum...

4 years ago 0 Comments
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Outside of looming legal battles and down year-over-year revenues, SouthPeak recently received a $10 million "asset-based line of credit" that extends until February 28, 2012, reports IndustryGamers, effectively replacing an $8 million line of credit previously secured. We're not quite sure what de...

4 years ago 0 Comments
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Things stateside haven't gone the way of Blockbuster Portugal (yet) but while the Blockbuster was able to make arrangements with creditors and avoid bankruptcy this week, it will be forced to delist from the New York Stock Exchange after a proposed reverse stock split fell through. Even the extensi...

4 years ago 0 Comments