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38 Studios - $1.125M Default

by Dhruin, 2012-05-16 23:02:08

Joystiq reports a meeting to resolve 38 Studios' failure to pay the first $1.125M of their Rhode Island state loan - and 38's request for more money - didn't reach an outcome:

Today's emergency meeting by Rhode Island officials to determine what they are going to do about Curt Schilling's 38 Studios has concluded with officials freezing like deer in headlights. Nothing happened.

Rhode Island's Economic Development Corporation will take no immediate action to aid the developer, following a closed-door meeting attended by Governor Lincoln Chafee and Schilling, who asked for additional help to save the company. Schilling refused to answer press inquiries and officials wouldn't declare how much money the studio is seeking.

"How do we avoid throwing good money after bad?" Chafee is quoted by the Associated Press as saying after the three-hour emergency meeting finished.

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