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38 Studios: Rhode Island Takes Possession

Posted Aug 09, 2012 by Suzie Ford

38 Studios: Rhode Island Takes Possession

The State of Rhode Island has taken possession of the physical assets formerly part of 38 Studios. The state will attempt to liquidate the assets to recoup losses to its investment due to bankruptcy.

U.S. Bankruptcy Judge Mary Walrath has granted the state and the Bank of New York Mellon Trust Co. possession of all 38 Studios assets, including the video game intellectual property from Kingdoms of Amalur: Reckoning and in-development MMORPG Copernicus. The state will now be looking to sell these assets to pay back as much of the loan as it can, reports Bloomberg.

Source: Gamasutra.

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Suzie Ford / Suzie is the Associate Editor and News Manager at MMORPG.com. Follow her on Twitter @MMORPGMom

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