House committee to hold hearing on 38 Studios loans - ABC6 - Providence, RI and New Bedford, MA News, Weather

House committee to hold hearing on 38 Studios loans

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By: Dee DeQuattro
Twitter: @deedequattro

The House Oversight Committee is hearing testimony on whether the state should continue to pay back the 38 Studios moral obligation bond

The State started making payments on the loan given to Curt Schilling’s bankrupt video game company last week.

Governor Chafee said the state needs to honor its obligation.

“It’s ironic that as the chief critic of investing that original $75 million in 38 Studios that now I’m the advocate of paying the bill. But I believe in the long term interest of our state,” said Chafee.

He says he is concerned that is the state doesn’t make the payment it could jeopardize the fate of the ongoing lawsuit to recoup the $75 million dollars.

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