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Monday, 22 February 2010 05:47

Cheyenne Mountain files for Chapter 11

Written by David Stellmack

Image

Bankruptcy and reorganization the only option



The future of the Stargate Worlds MMO took another turn for the worse with news that developer Cheyenne Mountain has reportedly filed for Chapter 11 bankruptcy protection. Most recently, the developer announced that it would be changing direction and releasing a new FPS title called Stargate Resistance, which was released on February 10th.

Stargate Resistance, according to our sources, was an effort to drive revenue to the company in hopes that it would help get the company going again; and hopefully, the company could return to the development of the Stargate MMO, which was ultimately what the studio was working toward the release of.

This news leaves some question marks about Stargate Resistance. According to Cheyenne Mountain, support for the title will continue, but we have to think that while some support will continue for a time, it may hinge more on the potential of a reorganization of the company that is allowed by the Bankruptcy Trustee under a Chapter 11 filing. The company claims that its staff is still working on upgrades and expansion to Stargate Resistance and they are motivated by the reception that the game has received from players.

While it is hard to exactly pin down what is going on with Cheyenne Mountain, the Chapter 11 filing might have a lot to with the reported potential conduct of the former CEO and Chairman, Gary Whiting. Complaints by shareholders have been reportedly filed against him in Arizona. In addition, some sources say that his other business dealings could potentially put Cheyenne Mountain on the hook for payments and other liabilities.

While the future of the developer is in doubt, it is certainly going to take some time to sort out. We have to believe that the possible continued development of the Stargate Worlds MMO will remain on the shelf and the future of Stargate Resistance is in jeopardy, as well. Stay tuned to see how this one sorts itself out, but we have to think that based on what we are hearing that it could be some time before it is all said and done.

Last modified on Monday, 22 February 2010 10:09

David Stellmack

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