RI Superior Court Denies Well Fargo's Stay Request in 38 Studios Case

September 12, 2014 - GamePolitics Staff

According to the Providence Journal, the Rhode Island Superior Court has denied a request by Wells Fargo to stop the progress of the state’s ongoing lawsuit against those involved in the failed 38 Studios loan deal while the Rhode Island Supreme Court weighs whether a 2014 law that allows for streamlining settlements is legal under the state's constitution.

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RI Secretary of State Loses Democratic Primary for LT. Gov.

September 10, 2014 - GamePolitics Staff

The Providence Journal reports that Cumberland, Rhode Island mayor Daniel J. McKee has won a three-way Democratic primary race for lieutenant governor against the Rhode Island secretary of state A. Ralph Mollis and a State Rep. Frank G. Ferri who represents Warwick. McKee won just over 43 percent of votes, compared with 36 percent for Mollis and about 21 percent for State Rep. Frank G. Ferri. McKee will face Republican primary winner Catherine T.

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Rhode Island Receives First Settlement Payment in 38 Studios Lawsuit

August 28, 2014 - GamePolitics Staff

Officials for the state of Rhode Island announced this week that its first settlement payment from its ongoing lawsuit with principles involved in the failed 38 Studios $75 million loan deal has been received. According to a Providence Journal report, the state received a $4.37 million check this week from the insurance company representing two of the 14 defendants in the case. After expenses, the state will be able to bank about $3.2 million.

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38 Studios-Related Legal Wrangling Continues in Rhode Island

August 26, 2014 - GamePolitics Staff

The Rhode Island Secretary of State’s office held a hearing this morning in a continuation on the probe into possible lobbying violations by Providence attorney Michael Corso, according to WPRI Target 12 News. Corso represented 38 Studios to state officials without registering as a lobbyist in 2010, according to Secretary of State A. Ralph Mollis.

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Former 38 Studios Developers Create 'Alien' CCG for Upper Deck

August 26, 2014 - GamePolitics Staff

At least one good thing came out of the state of Rhode Island losing $75 million dollars (plus an undetermined amount in related costs including penalties, etc.) from the failed loan deal with Curt Schilling's 38 Studios: the success story of Danny Mandel and Ben Chichoski.

When 38 Studios went bankrupt and left dozens of its employees unemployed and abandoned - including many who relocated to Providence and the surrounding area to work there - employees like Danny Mandel and Ben Chichoski had to find something else to do in order to survive.

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Rhode Island GOP Highlight 38 Studios Debacle at Event

August 7, 2014 - GamePolitics Staff

The Rhode Island Republican Party will host a presentation this evening to inform the general public about the failure of 38 Studios and its potential long-term impact on state finances. The event will be held at the GOP headquarters in Warwick, Rhode Island.

State Representative Michael Chippendale, a member of two congressional oversight committees looking into the 38 Studios deal, will give a slideshow presentation on the issue. That will be followed by an audience Q&A session.

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Roger Williams University Eyeing Former 38 Studios Office for Future Expansion

August 4, 2014 - GamePolitics Staff

Providence, Rhode Island-based Roger Williams University is eyeing the former offices of 38 Studios as a future home, according to a report in the Providence Journal.

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RI Judge: General Treasurer Must Give a Deposition in 38 Studios Lawsuit

August 1, 2014 - GamePolitics Staff

A Rhode Island judge ruled on Friday that the state's current General Treasurer, Gina Raimondo, must submit to a deposition in the 38 Studios lawsuit filed by the Rhode Island Economic Development Corporation. The lawsuit is the state's attempt at recouping money from the failed $75 million state loan guarantee given to Curt Schilling's video game company in 2010.

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More Delays in 38 Studios Lobbying Hearings

July 30, 2014 - GamePolitics Staff

The Providence Journal reports that a hearing looking into 38 Studios' lobbying activities prior to securing the now-infamous $75 million loan from the state of Rhode Island, has been delayed to late-August.

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RI Judge Approves First Settlement in 38 Studios Lawsuit

July 24, 2014 - GamePolitics Staff

A Rhode Island judge has approved the first settlement in the lawsuit brought by the state’s economic development corp. against individuals and companies involved in brokering a $75 million bond to fund former Red Sox pitcher Curt Schilling's 38 Studios.

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RI Politician Backs Online Petition Pushing for Independent 38 Studios Investigation

July 23, 2014 - GamePolitics Staff

Rhode Island lieutenant governor candidate Dan McKee (D) has vowed to launch an online petition later this week calling for an independent counsel to review at "arm's length" the failed 38 Studios deal.

The current Cumberland, Rhode Island mayor says this particular effort is an attempt to pressure elected officials to do more to get answers. McKee has been highly critical of current elected officials over their handling of the 38 Studios deal and subsequent investigations into it.

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Hearing on 38 Studios Lobbying Activities Pushed to August

July 18, 2014 - GamePolitics Staff

A hearing related to the failed $75 million loan deal for former Red Sox pitcher Curt Schilling's video game company 38 Studios that was supposed to take place yesterday (July 17) has been rescheduled for early August. Some of the key players in the deal were asked to attend, including Curt Schilling, Michael Corso - who represented the company as its legal counsel - and Thomas Zaccagnino, one of the company’s board members.

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Judge Hears Arguments in 38 Studios Settlement Case

July 8, 2014 - GamePolitics Staff

Rhode Island Superior Court judge Michael A. Silverstein listened to arguments today on a proposed settlement by two of the defendants in the state’s lawsuit against 14 individuals involved in the failed 38 Studios loan deal. The judge did not issue a ruling on the matter.

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Former RI EDC Employees Say 38 Studios Settlement Law is 'Unconstitutional'

July 7, 2014 - GamePolitics Staff

Two former employees of the R.I. Economic Development Corporation on Monday formally objected to a proposed settlement in the long-running 38 Studios civil case, noting that a law passed by the legislature in the beginning of the year that made making individual settlements easier is unconstitutional under Rhode Island's state constitution.

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RI Lieutenant Gov. Candidate Asks Secretary of State to Step Away from 38 Studios Investigation

July 2, 2014 - GamePolitics Staff

Cumberland, Rhode Island Mayor Dan McKee showed a flair for the dramatic this week when he brought a letter to the race for lieutenant governor, according to the Providence Journal. Mollis showed up at the State House to personally hand-deliver a letter to his democratic primary opponent, current Secretary of State A. Ralph Mollis.

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First Defendant in 38 Studios Lawsuit Settles for $4.4 Million

June 30, 2014 - GamePolitics Staff

The state of Rhode Island has settled with one of the law firms it sued as part of the lawsuit against 38 Studios and other principles for a failed $75 million loan deal. The law firm, Moses Afonso Ryan, has admitted no wrong-doing, but has agreed to pay $4.4 million to the state because it wants to put the matter behind them. The settlement agreement was filed with Superior Court Judge Michael Silverstein on Friday. A hearing on the matter will take place July 7.

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Hearing on 38 Studios Lobbying Efforts Set for Next Week

June 25, 2014 - GamePolitics Staff

Rhode Island Secretary of State Ralph Mollis has sent letters to individuals involved in the 38 Studios deal to retroactively register as lobbyists and appear before a July 1 hearing. The hearing will determine if those who lobbied on behalf of 38 Studios to get a $75 million loan violated state law when they failed to register with the Secretary of State's office back in 2010.

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RI AG Candidate Calls On Current AG To Recuse Himself From 38 Studios Investigation

June 24, 2014 - GamePolitics Staff

You can probably chalk this up to "positioning in a political year against a tough opponent," but Republican attorney general candidate Dawson Hodgson says it is time for the incumbent Rhode Island Attorney General Peter Kilmartin to admit that he may be a "potential witness" in the state police’s 38 Studios investigation that he needs to "stand aside" because "the appearance of a conflict of interest … is just too strong."

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RI State Police Want to Interview Lawmakers Who Voted for 38 Studios Loan Deal

June 19, 2014 - GamePolitics Staff

Rhode Island state police have indicated that they plan to interview lawmakers who voted on the job creation program that ultimately led to Curt Schilling's now-bankrupt company receiving a $75 million state-backed loan, according to a Boston Herald report.

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Despite a Contentious Debate, Rhode Island House Passes 2014-2015 Budget

June 13, 2014 - GamePolitics Staff

The Rhode Island House passed the $8.7-billion budget early Friday morning after a lengthy and contentious floor debate. The majority of arguments were about allocating a little over $12 million to make a payment on the bonds that funded the $75 million loan to now bankrupt developer 38 Studios. Despite the lengthy debate that kept lawmakers in the chamber after midnight, the budget passed by a vote of 63-12. The budget bill will now go to the Senate for what is expected to be quick approval.

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Rhode Island Expected to Vote on Budget Today

June 12, 2014 - GamePolitics Staff

The Rhode Island House is close to voting on an $8.7 billion budget plan that cuts corporate and estate tax, gets rid of the toll on the Sakonnet Bridge (a four-lane bridge spanning the Sakonnet River in eastern Rhode Island), and allocates millions to make the next payment on the 38 Studios bond debt.

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RI GOP Gubernatorial Candidate Urges Lawmaker to Withhold Payment on 38 Studios Debt

June 11, 2014 - GamePolitics Staff

Cranston, Rhode Island Mayor and GOP gubernatorial candidate Allan Fung is urging state lawmakers in Providence to pass two bills to prohibit the state from making payment on the failed 38 Studios investment.

During a State House press conference earlier in the week, Fung said that no payments should be made until there is a "thorough investigation" of the issue, including an allegation by one-time GOP congressional candidate Michael Riley that insider trading occurred.

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RI Bill Prohibiting 38 Studios Bond Payment Finally Gets a Committee Hearing

June 9, 2014 - GamePolitics Staff

Legislation proposed earlier this year that would prevent Rhode Island from repaying the 38 Studios bonds is finally being taken up by a House committee. House Oversight Chairwoman Karen MacBeth last week blasted Speaker Nicholas Mattiello in a vote for not letting the bill have a proper hearing.

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Former Rhode Island Lawmaker Says He Was Used to Legitimatize Bill That Funded 38 Studios Deal

June 9, 2014 - GamePolitics Staff

Jon Brien was surprised when Steven Costantino, the chairman of the Rhode Island House Finance Committee asked him on the House floor to if he wanted to co-sponsor a big jobs bill in 2010. Brien, who was a state representative at the time, was on the outs with leadership after voting against House Majority Leader Gordon D. Fox in the mid-session election of a new speaker that year. He was on talk radio often, lambasting House Democratic leaders and their allies for alleged "political shenanigans."

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Former Allies Spar Over Bill Related to 38 Studios Loan Deal

June 5, 2014 - GamePolitics Staff

Earlier this year, it seemed like the new Rhode Island House Speaker Nicholas Mattiello and new House Oversight Committee Chairwoman Karen MacBeth were on the same page when it came to investigating went happened with the failed $75 million 38 Studios loan deal.

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Business Organizations Urge RI Speaker to Repay 38 Studios Loan Debt

June 4, 2014 - GamePolitics Staff

House Speaker Nicholas Mattiello received a letter from Rhode Island business organizations urging the General Assembly to budget taxpayer money to repay the roughly $90 million owed to bond holders in the 38 Studios deal. The letter was signed by ten organizations, including a number of chambers of commerce and business groups.

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Protestors Tell RI Lawmakers: Don't Bail Out 38 Studios

June 3, 2014 - GamePolitics Staff

At a recent State House rally, a small group of protesters urged lawmakers and the Governor not to bail out 38 Studios.

"It’s a scam. It’s a rip-off. We shouldn’t pay it back," said one protestor - as reported by the Providence Journal.

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RI Legal Battle Against 38 Studios Could Cost Taxpayers 'Millions'

May 29, 2014 - GamePolitics Staff

According to this GoLocal Providence report, the legal battle against 38 Studios has already cost the state $840,000 in legal fees and related costs, and could cost taxpayers "millions" by the time it comes to a close. Only a fraction of the total amount ($156,000) has gone to the firm representing the state, Wistow & Barylick, Inc.

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38 Studios Loan Deal Serves as Political Fodder in RI Attorney General Race

May 28, 2014 - GamePolitics Staff

The fallout from the $75 million loan given to 38 Studios is continuing to be a hot-button issue in the state of Rhode Island. In the race for Rhode Island Attorney General, one candidate is using the deal in his attack ads against incumbent Attorney General Peter Kilmartin. In a new 60 second attack ad airing on radio in the state, Republican state senator and attorney general candidate Dawson Hodgson's campaign highlights Peter Kilmartin’s 2010 vote for the legislation that allowed the 38 Studios loan guarantee.

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Report: Michael Corso Stood to Gain Millions from 38 Studios Loan Deal Getting Approved

May 23, 2014 - GamePolitics Staff

Another day, another dozen stories coming out of Rhode Island about 38 Studios and how it is affecting several political races this year. The most prominent story today (from the Providence Journal) highlights the revelation that Michael Corso, the Rhode Island lawyer, tax-credit broker, and long-time friend of former House Speaker Gordon D.

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