38 Studios bankruptcy

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The latest twist in the never-ending 38  Studios soap opera is the joust over grand jury secrecy.  RIPR political analyst Scott MacKay says this spat is more about politics than legal precedent.

RIPR File Photo

Attorney General Peter Kilmartin has filed an objection in Rhode Island Superior Court to Gov. Gina Raimondo’s legal petition to release the grand jury records from the state police 38 Studios case. Kilmartin’s objection did not include his reasoning for blocking release of the grand jury files, which Raimondo has sought to open up.

First Southwest Company, one of the financial institutions involved in the ill-fated 38 Studios deal, is objecting to the state’s recent settlement agreement with two other banks in the ongoing lawsuit against actors in the video game fiasco.

Lawyers for First Southwest filed a memorandum in Rhode Island Superior Court objecting to the settlement with Barclays Capital and Wells Fargo Securities, which, if approved by the court, would yield just under $26 million in payments to the state.