Stargate: Resistance Developer Files for Chapter 11

After more than a twelvemonth of dodging bullets, Stargate: Resistance developer Cheyenne Mountain Entertainment has filed for Chapter 11 bankruptcy.

Cheyenne Tons's financial bother first came to sandy back in December 2008 when information technology was revealed that employees, then knockout at work connected the still-suppressed MMOG Stargate Worlds, had spent more three weeks without organism paid. The company was eventually sued terminated owed bills and in mid-2009 reports of trouble between Cheyenne and Stargate owner MGM bubbled to the turn up. But somehow Cheyenne was able to keep dancing and while Stargate Worlds remains hung up in development limbo, the society did manage to put out the online shooter Stargate: Resistivity in the first place this month.

Cheyenne May have hoped that the set in motion of Impedance would apply it the shot in the arm information technology necessary to keep the ball rolling, but complete that turmoil has finally become too much to bear. In a statement posted on the official Stargate Worlds forums, Capital of Wyoming Mountain Community Manager "Gabriel_FS" wrote, "Cheyenne Stacks's corporate anatomical structure has undergone around dramatic changes in the last a couple of weeks, and that has resulted in versatile actions such as the filing for Chapter 11. Certain parties believed that was the right thing to do, other parties do not and this is still being evaluated and whitethorn personify rescinded. Even if the bankruptcy should go through, however, Chapter 11 plainly allows a fellowship to restructure its debt to a manageable plan approved by the courts. It does not absolve a company of debt, and it does not shut it down or other affect its daily trading operations."

In an engrossing twist, Capital of Wyoming Mountain has also connected in litigation against its early chairman and CEO, Gary Whiting, saying information technology observed "a a few months ago" that he had been named in a lawsuit filed in Utah over financial shenanigans between Cheyenne and Garvick Properties, another Whiting-regimented company. Whiting has been removed as a board member and his employment has been terminated; in a separate instruction, the company said, "It is uncertain at this time what the affect of Mr. Whiting's actions and the pending litigation will have on the Company's operations and business condition."

It's hardly what you'd call good newsworthiness but on the upside, it means that Capital of Wyoming Heaps will comprise with us for for a while longer and that the possibility clay that someday, Stargate Worlds might actually see the low-density of day. In the meantime, the Cheyenne profession manager said the development team is continued to body of work along upgrades and expansions for Stargate: Resistance. "This will all be sorted out in the legal and proper manner, and all of us on the development side of things hope IT's through with American Samoa rapidly as possible," atomic number 2 added.

Thanks to thenumberthirteen for the tip.

https://www.escapistmagazine.com/stargate-resistance-developer-files-for-chapter-11/

Source: https://www.escapistmagazine.com/stargate-resistance-developer-files-for-chapter-11/

Share this post