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.