The Rhode Island Economic Development Corp. and Bank of New York Mellon Trust Co. are now the proud (?) owners of the game assets of 38 Studios. While we doubt the state of Rhode Island will be releasing Kingdoms of Amular 2 or Copernicus anytime soon, we can expect that they will offer the assets for both of those franchises up for sale at some point in the not-too-distant future.
U.S. Bankruptcy Court Judge Mary Walrath (Wilmington, Delaware) granted requests by the Rhode Island Economic Development Corp. and Bank of New York Mellon Trust Co. to take control of the company's assets. It is expected that the intellectual property related to the action-RPG series and the MMO set in the same universe will be sold through a receivership proceeding in Rhode Island, with the proceeds going towards paying down the loan taken out by Curt Schilling's company.
38 Studios filed for Chapter 7 bankruptcy protection on June 7 after letting all of its employees go and defaulting on a loan payment earlier in the year. The company borrowed $75 million in state government bonds. The company hired fantasy writer R.A. Salvatore and comic book icon and toy maker extraordinaire Todd McFarlane to work on the games, and acquired Big Huge Games to help develop both the Kingdoms of Amalur: Reckoning (published by EA) and the upcoming MMO project Copernicus.