38 Studios bankrupt

[Taxious]

Ninety-Ninety Rule

Hah - I've never heard of that before, pretty funny.

[Nadia]

saga continues

Budget debate resumes Wednesday, after 38 Studios revolt fizzles
http://news.providencejournal.com/break ... zzles.html

http://www.wpri.com/dpp/news/local_news ... udios-deal

The 38 Studios debt was legally classified as moral-obligation bonds rather than general-obligation bonds. Governments promise investors they’ll repay general-obligation bonds, but only pledge to consider repaying moral-obligation bonds.

[Nadia]

http://massively.joystiq.com/2013/08/30 ... o-proceed/

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.

[Nadia]

http://www.hgpauction.com/auctions/2929 ... rettyPhoto

Starting: November 14, 2013 – 9:00 am EDT
Ending: November 15, 2013 – 12:00 pm EDT

Key Assets:

Intellectual property rights in the “Amalur” fantasy universe including:
“Project Copernicus” an in development Massively Multiplayer Online Role Playing Game (MMORPG) including a 10,000 year world history, completed character “races” and playable “zones”
Sequel rights to the critically acclaimed “Kingdoms of Amalur: Reckoning”, including development concepts, game artwork and designs.
Merchandise rights and revenue streams associated with the Xbox 360, PS3 and PC title “Kingdoms of Amalur: Reckoning”
Intellectual property rights in Big Huge Games’ properties including the classic PC strategy title “Rise of Nations” as well as “Rise of Legends” and the Xbox Live Arcade title “Catan”.
In house developed video game technology including the “Big Huge Games Engine” and the 38 Studios’ gaming, social media and development platform codenamed “Helios”

[Nadia]

news from last week
http://massively.joystiq.com/2014/02/06 ... for-38-st/

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.

The bill, which won unanimous support in the House Judiciary Committee and has already been passed by the Senate, is designed to protect defendants who settle in this case from lawsuits levied by co-defendants found liable for damages. Fallout from the collapse of the Kingdoms of Amalur: Reckoning studio has left Rhode Island stiffed on a bill that totals out to roughly $90 million; The attorney for the RICC believes this bill will provide for an increase in potentially recovered funds.

In related but sad news, Schilling has revealed to ESPN that he was recently diagnosed with cancer. His statement expressed hope, with Schilling saying, "My father left me with a saying that I've carried my entire life and tried to pass on to our kids: 'Tough times don't last. Tough people do."

[Nadia]

http://www.mmorpg.com/discussion2.cfm/thread/404975

According to a recent Twitter thread, Sony Online Entertainment's John Smedley has called the governor of Rhode Island an "idiot" for comments he made last December when he called 38 Studios' Project Copernicus "a lot of junk". The comments were made after the state failed to sell the IP during an auction as part of an effort to recoup $75 million dollars in public funds that was loaned to 38 Studios.

Smedley went on to make further comments:

@posion00 @gehrig38 I had the good fortune of seeing the game. It looked great. If that idiot Governor Chafee hadn't trash talked
— John Smedley (@j_smedley) February 10, 2014

@posion00 @gehrig38 Curt is an honest guy with good intentions. Although public money should never have guaranteed a winner or loser
— John Smedley (@j_smedley) February 10, 2014

@posion00 @gehrig38 Curt's only crime was believing in his own ability to will things to be better. He busted ass trying to get funding
— John Smedley (@j_smedley) February 10, 2014

Dear people of Rhode Island. Look to your elected government for failing to protect you. That 38 studios deal just never should have been.
— John Smedley (@j_smedley) February 10, 2014

All he had to do was give Curt another week and we wouldn't be here today.
— John Smedley (@j_smedley) February 10, 2014