Immediately after Rhode Island extended the beleaguered 38 Studios a $75 million dollar loan, Curt Schilling's company took out a $2 million letter of credit from Citizens Bank as the security deposit on their Providence offices. Well, that's all gone now. 38 Studios is bankrupt, the office is closed, there is effectively no more company. But the bank wants its money back, and it's hoping to collect not from 38 Studios' assets, but directly from Schilling's.
Deadspin · Barry Petchesky
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