Monday, 22 February 2010

Cheyenne Mountain Files For Chapter 11 Bankruptcy Protection

Oh dear, looks like we'll never get to see that Stargate MMO title as the game's developer, Cheyenne Mountain Entertainment has filed for Chapter 11 bankruptcy protection. An official statement from the developer reads:
“Cheyenne Mountain’s corporate structure has undergone some dramatic changes in the last few weeks, and that has resulted in various 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parties believed that was the right thing to do, other parties do not and this is still being evaluated and may be rescinded. Even if the bankruptcy should go through, however, Chapter 11 simply allows a company 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 otherwise affect its daily operations."

“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 done as quickly as possible. That said, our entire staff is in-house working on upgrades and expansions for Stargate Resistance, and we continue to be motivated and excited by the response we’ve received from our customers.”
Source: Massively

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