- Associated Press - Thursday, October 13, 2016

PROVIDENCE, R.I. (AP) - Attorneys have failed to reach settlement terms with the remaining defendant in the legal battle over who’s responsible for 38 Studios loan deal.

The Providence Journal reports (http://bit.ly/2el5CFz ) First Southwest Co. is the lone holdout in a lawsuit brought in response to the collapse of retired baseball star Curt Schilling’s video game company.

The Rhode Island Commerce Corporation, then the state Economic Development Corporation, accused First Southwest and others of withholding information regarding the failed $75 million loan deal.

The state was left on the hook for more than $102 million in principal and interest on bonds the agency sold to raise money for 38 Studios.

Max Wistow, the corporation’s lawyer, says there’s no settlement at this point and both sides are working toward setting a trial date in January.

___

Information from: The Providence Journal, http://www.providencejournal.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide