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Chapter 7 bankruptcy filed by 38 Studios LLC

The video-game company that is owned by the retired Boston Red Sox Pitcher, Curt Schillings, has filed for Chapter 7 bankruptcy protection in a Delaware bankruptcy court.

Schillings formed the company after his years playing professional baseball came to an end. The company was moved from Massachusetts to Rhode Island in 2011 after bonds from the state were acquired. The bonds were all spent, and 38 Studios LLC is said to owe $150.7 million to it’s numerous creditors.

The company will liquidate all of it’s assets, in order to begin paying back creditors. Some of those assets that will be up for sale include: software, patents, and video-game assets.

Please contact the Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 if your company is looking into filing for Chapter 7 bankruptcy protection.

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