Quantcast
Channel: Breaking News
Viewing all articles
Browse latest Browse all 5026

Pre-trial hearing begins in 38 Studios case

$
0
0
By Paul Grimaldi

PROVIDENCE, R.I. -- The hearing before the hearing started Friday morning on the state's lawsuit against the people involved in the 38 Studios loan deal.

Lawyers for the 14 defendants in the case and for the R.I. Economic Development Corp. began the first round of legal maneuvering since a R.I. Superior Court judge ruled a majority of the state's case related to the videogame company's closure could move forward.

Judge Michael A. Silverstein ruled last month that most of the EDC's lawsuit alleging fraud, negligence and breach of fiduciary duty in the the defendants' work on the $75-million loan guarantee for 38 Studios may go forward.

The company filed for bankruptcy last year, leaving Rhode Island taxpayers with a multimillion debt to pay investors.

Friday, the lawyers filled their arguments over legal details with colorful phrases, such as "spaghetti mess," "pulling a Heisman" and "blunderbuss" filings.

Silverstein settled some case deadlines and other administrative matters during the hearing.


Viewing all articles
Browse latest Browse all 5026

Trending Articles