FILE- In this May 21, 2012, file photo, former Boston Red Sox pitcher Curt Schilling, center, is followed by members of the media as he departs the Rhode Island Economic Development Corporation headquarters in Providence, R.I. Schilling has dabbled in politics, World War II history and raised millions for Lou Gehrig's disease, but it's a gamble on his video game company 38 studios that is in danger of failing and possibly leaving Rhode Island taxpayers with the tab on a $75 million loan guarantee that lured the firm from Massachusetts in 2010. (AP Photo/Steven Senne, File)

Citizens bank files suit against Schilling and 38 Studios

Posted: 6/14/2012 1:55:55 PM
Updated: 6/14/2012 1:58:41 PM

Citizens Bank confirms it has filed suit against Curt Schilling and his videogame company 38 Studios.

The Providence based bank is seeking $2.4 million from the former Red Sox Pitcher and his bankrupt company. The money the bank is trying to recover includes a $2 million letter of credit personally backed by Schilling and close to $400,000 due on the company’s corporate credit card.

Citizens bank filed suit in Boston Superior court and is just one of several creditors seeking payment from Schilling’s company.

38 Studios filed for Chapter 7 bankruptcy in early June which means the state of Rhode Island is on the hook for up to $102 million in payments related to a $75 million state guaranteed loan granted to the failed company by the Rhode Island Economic Development Corporation.