Wed July 11, 2012
Gov. Chafee: The facts will support my position on 38 Studios
By IAN DONNIS
PROVIDENCE, RI – Gov. Lincoln Chafee says he feels vindicated by testimony during the bankruptcy case of failed video game maker 38 Studios.
A bankruptcy meeting on the company's debts and assets began Tuesday in Wilmington, DE. Chafee says the testimony supports his stance in 2010 that 38 Studios was a bad bet for public dollars.
"When the facts come out, it's going to support what I've been saying: they needed private investment from the beginning," says Chafee. "You might say right from the beginning the deal was flawed, that they couldn't survive just alone on the state contribution."
Curt Schilling insists his video game company could have stayed afloat if the state had made tax credits available.
Rhode Island taxpayers remain on the hook for about $100 million after 38 Studios filed for Chapter 7 bankruptcy last month.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. email@example.com.