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RI court appoints receiver for Schilling company
Thursday - 8/9/2012, 4:54pm EDT
PROVIDENCE, R.I. (AP) - A court has appointed a receiver for former Red Sox pitcher Curt Schilling's video game company now that its bankruptcy case has been moved from Delaware to Rhode Island.
Gov. Lincoln Chafee (CHAY'-fee) announced the appointment of attorney Richard Land on Thursday. An attorney representing the state, Tom Carlotto, says it's the first step in a process in which the state will attempt to recoup as much of its investment in the company as possible.
The state had sought the appointment of a receiver in Rhode Island following a federal judge's decision to move the bankruptcy case.
38 Studios was lured from Massachusetts in 2010 with a $75 million loan guarantee from the state's economic development agency.
The company laid off its employees in May and filed for bankruptcy in June.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)