Updated Mon, Apr 15, 2013 by Morvelaira
It's not Flagship doing the development though.
According to job postings put out into the internet, Asian company T3 Entertainment is setting up an office in San Fransisco to continue development on both Hellgate: London and Mythos. They are currently looking for programmers in the Bay area.
While this looks like a very good thing on the surface, it could start a whole new wave of drama in this story. For someone who hasn't been following - Flagship Studios, developer of Hellgate: London and Mythos, recently went under, firing all of its employees. HanbitSoft, a Korean firm which Hellgate owed some debts to immediately claimed the IP's as their property. This led to a bit of back and forth, with legal action threatened.
What makes this new development so interesting is that T3 Entertainment recently acquired a controlling stake in HanbitSoft. If they're going through the trouble to set up a San Fransisco studio, they must have a pretty good expectation of getting their hands on the IP. (Or a whole lot of arrogance, but that's another story.) I don't expect Flagship will do that without a fight though.
Regardless, I'd expect some reaction from the remnants of Flagship either today or tomorrow. Keep yer eyes open!
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