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Mortgage Issues for Schilling’s 38 Studios

Joseph Coupal - Tuesday, June 19, 2012
As Curt Schilling’s company faces bankruptcy, 38 Studios also faces mortgage issues.  An attorney for five former employees of the video game company has asked the Attorney General, Martha Coakley, to look into the relocation company that handled the company’s relocation to Rhode Island.  After the relocation, the company made a deal with MoveTrek Mobility LLC to assist staff in selling their homes, giving the impression that to the sellers that they sold their homes in 2011.  However, workers received a letter that MoveTrek was rescinding its agreement to purchase the homes, and on the same day 38 Studios filed for bankruptcy. MoveTrek was unable to sell 7 homes because Studio 38 refused to pay costs required to sell the home.  The attorney is accusing the company of violating the state’s consumer protection law and hindering workers with a second mortgage.

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