38 Studios Execs Say Miscommunication Led To $75M Default

Law360, Wilmington (July 10, 2012, 11:48 PM EDT) -- Executives of 38 Studios LLC, the bankrupt game developer bankrolled by former MLB ace Curt Schilling, told a Chapter 7 trustee Tuesday that poor communication with Rhode Island officials helped lead the company to default on a $75 million loan guarantee from the state.

Founded in 2006 — just two years after Schilling helped pitch the Boston Red Sox to a long-awaited World Series title — 38 Studios was lured from Maynard, Mass., in 2010 by a loan guarantee and tax incentives from Rhode Island Economic...
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