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Posts tagged rhode-island-economic-development-corporation

38 Studios settlement bill clears Rhode Island House of Reps

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...

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Rhode Island EDC implements tracking software following 38 Studios debacle

Following criticism of how it managed its $75 million loan to the now-defunct 38 Studios, the Rhode Island Economic Development Corporation (EDC) is implementing a new client relationship system to help employees track their interactions with businesses. The EDC's board of directors has agreed ...

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SEC investigating Rhode Island's 38 Studios deal

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...

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Rhode Island holding public hearings over 38 Studios, exploring loan default

The story of 38 Studios as a video game developer is long over, but the financial fallout from its $75 million in taxpayer-backed loans continues in the state of Rhode Island. The Providence Journal reports two developments this week, as the state will shortly begin a public hearing process over th...

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Rhode Island prepared to sell 38 Studios' Amalur intellectual property

The state of Rhode Island's last keepsake of 38 Studios – beyond a $100-million-plus loan debt – is the company's Amalur intellectual property, which it's planning to sell off shortly. The Providence Journal reports there is interest in the asset, but the lawyer in charge of the sale ...

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Schilling asks judge to throw out lawsuit over $75 million loan

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...

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Events 2012: 38 Studios

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 Islan...

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Architects of 38 Studios' $75M loan sued by Rhode Island EDC

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...

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'38 Spouse' explains decision to speak now, never heard of 'EA Spouse'

Late Tuesday night an email blast went to several media outlets from '38 Spouse,' offering up an inside look into the collapsed 38 Studios "through the eyes of a spouse of one of the employees." The allusions to the EA Spouse (Erin Hoffman) incident of 2004, a watershed moment in the industry regar...

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38 Studios liquidation valued in tens of millions by RI, gov. will get every penny he can for taxpayers

38 Studios declared bankruptcy earlier this afternoon and Rhode Island Governor Lincoln Chafee held a press conference this afternoon to discuss the company's assets, which now belong in part to Rhode Island taxpayers. "We have had in recent days discussions with investors that were and, to my kn...

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