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A bill to promote out-of-court settlements for lawsuits over the collapse of Curt Schilling's 38 Studios has passed through the Rhode Island House of Representatives this week. The bill, which passed in a vote of 53-16, would protect defendants who settle from lawsuits filed by co-defendants over d...

February 12th 2014 at 6:30pm 0 Comments
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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...

September 11th 2013 at 6:00pm 0 Comments
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The 38 Studios epilogue continues with the U.S. Securities and Exchange Commission investigating the $75-million loan provided by the state of Rhode Island to the defunct studio. WPRI reports the SEC probe is examining the taxpayer-backed loan the R.I. Economic Development Corporation (EDC) gave to...

September 11th 2013 at 12:00pm 0 Comments
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According to a report in the Boston Globe, a Rhode Island judge has ruled that the state's lawsuit against baseball star Curt Schilling and his merry band of 38 Studios execs will continue, in spite of the defense's movement to dismiss the case outright. The suit, which began in May, was filed by...

August 30th 2013 at 7:00pm 0 Comments
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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 that...

April 11th 2013 at 4:30pm 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...

March 4th 2013 at 7:15pm 0 Comments
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38 Studios was the video game story of the year with mainstream appeal. Much of that mainstream appeal had to do with Curt Schilling, the former baseball player for the Boston Red Sox who went on to found his own video game studio. But the story was way more than Schilling.The state of Rhode Island...

December 31st 2012 at 11:15am 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...

November 1st 2012 at 2:00pm 0 Comments
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The Rhode Island Economic Development Corporation (EDC), the quasi-public group that granted the $75 million taxpayer-guaranteed loan to 38 Studios, has filed a lawsuit against the architects of the 2010 deal. WPRI reports the defendants include 38 Studios founder Curt Schilling and CEO Jennifer Ma...

November 1st 2012 at 12:50pm 0 Comments