Chafee hires lawfirm to try to recoup money from 38 Studios
Posted: 6/26/2012 2:40:23 PM
Updated: 6/26/2012 5:27:38 PM
Governor Lincoln Chafee announced that the state has retained a law firm to investigate if there is any money the state can recoup in regards to 38 Studios.
The state has retained Wistow & Barylick Inc. of Providence on a contingency basis. If money is recovered the state has agreed to pay the firm 16.66 percent of that amount.
"We're gonna try to find out what happened, when it happened, who was involved in it and see if there's a basis for an action," said Attorney Max Wistow.
Governor Chafee remarked that he thinks that the deal they reached with the law firm was a good deal for the tax payers.
"It's a great firm with great experience and a very favorable contingency. I don't want to say too much but I think it's fair and a really good deal. I'm very very happy," said Governor Chafee.
38 Studios, owned by former Red Sox Pitcher Curt Schilling, recently filed for bankruptcy leaving the state of Rhode Island on the hook for a $75 million state backed loan granted to the company by the Rhode Island Economic Development Corporation.
Liz Burke| WPRO News|
(6/27/2012 10:43:42 PM) How did Chafee pick this law firm? Is it just another case of cronyism at the taxpayers expense - follow the money. |
| - sfcpete |
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