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The AP is reporting that Rhode Island is attempting to default on the debt it owes for 38 Studios' $75 million loan and subsequent bankruptcy. The state has a proposal before lawmakers that would keep it from having to make any payments to bond holders. Supporters of the move to default say th...

2 years ago 0 Comments
April 11, 2013 at 4:30PM
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Just when you thought the world might let the wound where 38 Studios and Kingdoms of Amalur were ripped from your heart heal over, along comes some new drama. Max Wistow, the lawyer for the Rhode Island Economic Development Corporation, filed documents on behalf of the state claiming that ...

2 years ago 0 Comments
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Curt Schilling, founder of defunct 38 Studios, asked a judge to throw out The Rhode Island Economic Development Corporation's lawsuit that alleges Schilling and studio executives misled the agency in securing a $75 million taxpayer-guaranteed loan. The lawsuit accuses Schilling and his crew of frau...

2 years ago 0 Comments
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Back in May, Project Copernicus developer 38 Studios became embroiled in the controversy of the year when the studio officially shut down and fired all 379 of its employees. The story quickly turned political as the studio had been granted a loan of $75m US by the state of Rhode Island and it bec...

2 years ago 0 Comments
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If you've started to forget about the saga of 38 Studios' collapse, rest assured that Rhode Island politicians certainly have not. With the election coming soon, many in the state are scrambling to offset the blame for the $75 million loan decision and protect their positions. The Associated Pres...

2 years ago 0 Comments