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R.I. Lawyer Wants Delay 38 Studios Game Property Auction

Posted Wed, Nov 06, 2013 by Martuk

Lawyer Richard J. Land, who was appointed by R.I.’s Supreme Court to sell off 38 Studios’ gaming IPs, is calling for a delay in next week’s planned auction to sell off the now defunct studio’s gaming assets. Last month Land scheduled an auction to take place November 13th-14th to sell off assets and games in the 38 Studios library such as Kingdoms of Amalur: Reckoning and the unfinished MMORPG Copernicus as well as titles acquired with the Big Huge Games acquisition. But Land is calling for a delay of next week’s auction telling the Providence Journal that "interest has been greater than expected from potential bidders." Land will be asking the R.I. Superior Court to delay the auction for a couple of weeks.

In the meantime, depositions for a legal case began last week in a case filed by the R.I. Economic Development Corp., who approved the $75 million loan deal that brought 38 Studios to the state, against 38 Studios founder Curt Schilling and former members of the studio’s executive team as well as former R.I. EDC members. The suit alleges “fraud, negligence, breach of fiduciary duty and other acts that misled the agency's board into approving a $75 million state loan guarantee for the company in 2010.

Source: Providence Journal

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