Former Stargate Dev's Shareholders Warp to Court

Andronicus

Terror Australis
Mar 25, 2009
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Say what? o_O
All I got from this is that THE MASSIVELY MULTIPLAYER ONLINE GAME SET IN THE STARGATE UNIVERSE got canned, and all these people care about is some money. They need to sort out their priorities.
 

BlindMessiah94

The 94th Blind Messiah
Nov 12, 2009
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thenumberthirteen said:
BlindMessiah94 said:
thenumberthirteen said:
Damn. I'd hoped this whole mess was done with. Af least we got one game out of CME before it went under.

Also, the Escapist beating me to a Stargate story?! My apologies to the SGFC. I'm on holiday and have to use my phone.
That's what I said when I saw it thirteen. I was wondering why it wasn't in my stargate news lol.

But you are allowed to go on holidays...I suppose.
When I get back expect another mega update.
Aagh I go on vacation on Sunday, hope I don't miss it.
 

Starke

New member
Mar 6, 2008
3,877
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albino boo said:
Jaredin said:
...again its one of those cases where, desite how much they try and sue them it isnt going toreally see much from it...due to the fact they prolly dont have anything anyway
If it was worth nothing why did they bother to transfer it then? The very fact that assets were transfered indicates that they had some value and the poeple that owned the company are entitled that money.
Well, that's sort of how business bankruptcy is supposed to work. You can't pay off your debts, and you can't make money to mitigate them, so you sell off your assets to raise money to pay your investors back what you can.

Now, normally when you're selling things like this, it goes through the bankruptcy court, usually just the judge or an arbiter or the like, who approves the sales, and you use that money to pay back what you owe.

What happened here was they bypassed the court and sold assets for far less than they were worth. (Which is exactly what an arbiter or judge is supposed to prevent from happening.)

I apologize if I'm sounding condescending. In theory it's pretty simple protection for the debtors, in practice its inordinately complex.
 

Rigs83

Elite Member
Feb 10, 2009
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kingcom said:
Rigs83 said:
kingcom said:
I dont understand. They "Warp to Court" ? Is that like a legal term? Or some incorrect sci-fi joke?
I think it is a reference from Star Trek because that show was built along the premise of Warp technology while Stargate was built on the premise of wormhole technology and faster than light travel tech that may or may not have also been called warp drives.
Im aware i was making a somewhat sarcastic quip.
This is the internet and your sarcasm will be over analyzed.
 

Starke

New member
Mar 6, 2008
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Rigs83 said:
kingcom said:
Rigs83 said:
kingcom said:
I dont understand. They "Warp to Court" ? Is that like a legal term? Or some incorrect sci-fi joke?
I think it is a reference from Star Trek because that show was built along the premise of Warp technology while Stargate was built on the premise of wormhole technology and faster than light travel tech that may or may not have also been called warp drives.
Im aware i was making a somewhat sarcastic quip.
This is the internet and your sarcasm will be over analyzed.
OH GOD! It peers into my very soul and makes me want to vomit... :p
 

night_chrono

New member
Mar 13, 2008
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There is a lot of misconception regarding the whole "police called" that always seems to be brought up. So I provide you with a quote from a DCG developer who was there at the incident.

"Further, mention was made about police on February 24. A couple of things I should tell you. First, at that time, we all worked for Cheyenne, NOT Dark Comet or Fresh Start. Lack of funding at Cheyenne put the game at risk (landlord and hosting contract). We signed out computers to key staff to take home in case the offices were locked, so the game wouldn't suffer.

Given that, at that time, two parties were arguing over who exactly was in control of CME, the ousted party called the police, arguing that the other party was stealing computers. The police came, satisfied themselves that no crime was being committed, and left without taking any action.

One party did, in fact, claim a theft was occurring. That's a true statement. Taking that beyond that point, to say a crime actually occurred ignores the fact that, after being invited in to tour the studio, shown our logs that recorded each computer being taken out of the office, and satisfying themselves that there was no crime, the police left. And, in fact, after they left, the two arguing parties remained and had a rather civil meeting for a few hours."

From http://forums.stargateworlds.com/showpost.php?p=765194&postcount=89