Rhode Island Takes Control of 38 Studios Assets

The state of Rhode Island and Bank of New York Mellon Trust Co. take control of 38 Studios assets.

The Rhode Island Economic Development Corporation and the Bank of New York Mellon Trust have won a court ruling to take control of the assets for Curt Schilling’s now defunct 38 Studios. The ruling was made by U.S. Bankruptcy Judge Mary Walrath in Wilmington, Delaware, granting the entities permission to take control of the developer’s remaining assets of which is mostly made up of intellectual property that includes Kingdoms of Amalur: Reckoning and the incomplete MMORPG codenamed Project Copernicus.

The property will be transferred to new servers for safe keeping while a potential buyer can be sought for the properties to help pay off some of the $75 million loan that brought the studio to Rhode Island in 2010.

via Develop

Source: Bloomberg

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