House Oversight Committee To Hear Testimony On 38 Studios Repayment

May 8, 2014

The head of a business-backed group is slated to offer his view this Thursday on the pros and cons of paying back investors in 38 Studios.  The House Oversight Committee plans to take up that issue.

The House Oversight Committee will hear testimony on 38 Studios repayment.

House Oversight is scheduled to hear from John Simmons, head of the business-backed Rhode Island Public Expenditure Council.  The issue of paying back investors in 38 Studios has been hotly debated. Governor Lincoln Chafee and state Treasurer Gina Raimondo argue that not paying back bondholders would be harmful for the state.  Yet some Republican lawmakers argue that the cost of not paying back bondholders has not been calculated. The state hired a firm to try to determine that cost. The results of that inquiry have not yet been released.

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