Friday 31 May 2013

Investigation of 38 Studios Debt Continues

More than one year following the release of Kingdoms of Amalur: Reckoning, the state of Rhode Island continues to investigate the aftermath of developer 38 Studios, and is now exploring the possibility of forgiving the debt incurred by the developer's destruction. The Chafee administration is collecting plenty of new data, according to Providence Journal, that better informs the state's next step in repaying lenders.

Thousands of pages of documents acquired via a public information request could better guide a House panel's decision to not repay the debt, or pursue its "moral obligation" to repay those burned by the failed investment, despite the fact that the state isn't legally obligated to do so.

“The perception out there is that we haven’t been doing anything,” said Michael J. Marcello, House Oversight Committee Chairman. “But the fact of the matter is we’ve gathered a ton of documents and we haven’t had a hearing because we just got the documents.”

A decision must be made, one way or the other, by July 1 as to whether Governor Chafee will allocate $2.5 million of the state's budget to a 38 Studios debt payment.

38 Studios closed in May 2012 following its bankruptcy testimony last July. The studio’s assets became property of Rhode Island in August, and 38 Studios sought dismissal of the state's suit against the Amalur developer.

Mitch Dyer is an Associate Editor at IGN. He’s also quite Canadian. Read his ramblings on Twitterand follow him on IGN.


Source : ign[dot]com

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