PROVIDENCE, R.I. -- The Rhode Island Economic Development Corporation's board agreed in principle Monday night to a proposal by the federal bankruptcy trustee in the 38 Studios case to use up to $150,000 to conduct his own investigation of the defunct video game company's former officers and directors.
EDC attorney Thomas E. Carlotto said the proposal by federal bankruptcy trustee Jeoffrey L. Burtch of Wilmington, Del., is separate from the lawsuit the state has filed against 38 Studios founder Curt Schilling and 13 other defendants.
Carlotto said the new investigation could lead to additional litigation brought by Burtch.
Carlotto said the details of Burtch's proposed investigation are still being negotiated. At least one other party, the Bank of New York Mellon Trust Co., which represents the holders of the 38 Studios bonds, must also consent.