Cheyenne Mountain goes bankrupt
The studio behind the upcoming Stargate Worlds MMO has gone bankrupt. The company started to have problems in 2008 when some of the employes claimed that they hadn’t been paid. The future of the Stargate MMO is unknown untill a studio purchases the rights to continue or create something new with the IP.
MESA, Ariz. —March 25, 2010 ——TO ALL SHAREHOLDERS OF CHEYENNE MOUNTAIN ENTERTAINMENT “(CME”), CHEYENNE MOUNTAIN GAMES (“CMG”) AND CHEYENNE MOUNTAIN GAMES SUBSIDIARIES
In an effort to communicate to shareholders of CME and CMG, this letter is being posted on the company website and emailed to all shareholders for whom we can find email addresses. While in all likelihood it is not a complete list, it is the best information available for shareholders at the moment. Should you personally know other shareholders, please share this information with them. Below, in a question and answer format, is some information that will hopefully clear up some of the apparent confusion that exists with regard to the operations and affairs of CME and CMG. Who is in control of CME and CMG’s operations and affairs at this time? The Maricopa County Superior Court (Judge Myers) has ordered on March 15th, that Edward “Ted” Burr of Sierra Consulting Group (“Sierra”) be appointed as receiver to take over the assets, affairs, management, operation and control of Cheyenne Mountain Entertainment, Inc. (“CME”) and its subsidiary Cheyenne Mountain Games, Inc. (“CMG”). The term “Receiver” shall include assistants to Mr. Burr employed at Sierra. Dale Belt, a Managing Director at Sierra, has begun the process of complying with the court order. A copy of the Receivership Order can be found in the “News” section of the CME company website at www.cheyenneme.com. Additionally, on Thursday afternoon of March 18th, Judge Sarah Curley of the United States Bankruptcy Court — District of Arizona ruled that the Receiver shall be recognized as the controlling managerial representative for CME in its Chapter 11 proceeding that was filed on February 12th.
Read more: http://www.cheyenneme.com/news/589/
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