BREAKING: State of RI Sues Curt Schilling and Others Over 38 Studios

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Thursday, November 01, 2012

Dan McGowan, GoLocalWorcester Contributor

Former Red Sox ace Curt Schilling and former Rhode Island Economic Development Director (EDC) Keith Stokes have been named in a lawsuit filed by Max Wistow, the lawyer hired by the EDC to seek damages following the 38 Studios fall out, sources tell GoLocal.

Also named in the lawsuit were the lawfirms Adler Pollock & Sheehan and Moses Afonso Ryan. It is unclear how many other individuals or firms were named.

The lawsuit comes several months after Schilling’s video game company filed for bankruptcy less than two years after receiving a $75 million loan guarantee from the state. In its bankruptcy filing, the company reported less than $22 million in assets and owed just over $150 million to over 1,000 mostly-unsecured creditors, court records. The state is the largest secured creditor at $115.9 million.

The company's cash-flow problems first came to light when it defaulted on a $1.125 million payment due to the state’s EDC in May.

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