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View Full Version : Stargate developer files for Chapter 11 bankruptcy


nekrosoft13
02-21-10, 01:45 AM
Anyone who has been keeping an eye on the situation surrounding Stargate Worlds, Cheyenne Mountain Entertainment and related publishing company FireSky, knows that there's been trouble brewing for some time. We've seen struggles to get funding, employees going unpaid, lawsuits for unpaid bills, and some of the studio's main names leaving the building. Still, they just released the FPS based on the work they'd been doing for Stargate Worlds, called Stargate: Resistance. The hope was that S:R would give Cheyenne Mountain Entertainment a much needed cash infusion.

Now, news has come to light that not only has Cheyenne Mountain Entertainment filed for Chapter 11 Bankruptcy protection, but they've also severed all ties with Gary Whiting -- former Chairman and CEO of CME. Add to that, the shareholders and Cheyenne Mountain have joined forces against Whiting in civil case (CV2010-003106) filed in Maricopa County, naming many other ventures including the curious "interactive social network," MMOGuls Inc. as co-defendants, in a civil complaint "alleging various wrong doing against the Company."

A statement detailing the company's current status was posted today to the Stargate Worlds forums. We've included it behind the break for those interested. In the meantime, let's hope that the change in leadership, combined with a reorganization under Chapter 11, and the release of Stargate: Resistance proves to be the boon that Cheyenne Mountain needs to get back on track -- and into the black.

Taken from the post by Gabriel_FS:

Cheyenne Mountain's corporate structure has undergone some dramatic changes in the last few weeks, and that has resulted in various actions such as the filing for Chapter 11. Certain parties believed that was the right thing to do, other parties do not and this is still being evaluated and may be rescinded. Even if the bankruptcy should go through, however, Chapter 11 simply allows a company to restructure its debt to a manageable plan approved by the courts. It does not absolve a company of debt, and it does not shut it down or otherwise affect its daily operations.

This will all be sorted out in the legal and proper manner, and all of us on the development side of things hope it's done as quickly as possible.

That said, our entire staff is in-house working on upgrades and expansions for Stargate Resistance, and we continue to be motivated and excited by the response we've received from our customers.

See you on the battlefield!

http://www.massively.com/2010/02/19/cheyenne-files-for-chapter-11-bankruptcy-severs-ties-with-gary/

K007
02-21-10, 02:31 AM
Why can't they do a good Stargate FPS game?....Shame too, because they had one going before and a lot of the guys from Stargate SG1 did voice overs and they stopped the game to release the mmo...

NarcissistZero
02-21-10, 02:42 AM
Yeah, everyone has their eye on WoW money but none of them can compete with that game. You would think they would learn by this point.

I bet everyone at Cryptic and other MMO development houses keeps saying "just wait til we get that WoW money!"

nutcrackr
02-21-10, 03:16 AM
I was reading up on Steam and most people were in agreement that S:R was as steaming pile of ****.

NarcissistZero
02-21-10, 06:24 AM
I was reading up on Steam and most people were in agreement that S:R was as steaming pile of ****.

In their defense everyone on the Steam forums thinks everything is a pile of ****.

K007
02-21-10, 01:41 PM
well mw2 was a pile of poop...