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Cao Ni Ma posted:500 post in an hour wtf happened It's the ELE, for real this time. 
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Dec 13, 2017 21:39
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Cao Ni Ma posted:500 post in an hour wtf happened https://www.scribd.com/document/367101474/Crytek-v-CIG There's a quiz later.
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Dec 13, 2017 21:39
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Hav posted:For anyone with more knowledge of the terminal end of American business... The transferring of assets for a nominal fee is called a fraudulent transfer or conveyance (and is actionable under both state law and Federal bankruptcy law) and is the basis for a lawsuit. The law has remedies for most of these shenanigans. However, it requires litigation, which is expensive. People play shell games not because they can get away with it, but to make it expensive to recover--giving leverage for a settlement whereby they don't have to give everything back.
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Dec 13, 2017 21:41
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Scruffpuff posted:Judge: CIG, what do you have to say in your defense? Holy poo poo  Now please stop posting, I'm trying to catch up back here and I keep having to stop to piss myself laughing
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Dec 13, 2017 21:43
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Scruffpuff posted:I hope Hans Zimmer composes the score for the ELE. I'm just happy we have Full Burn.
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Dec 13, 2017 21:43
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7.7K views haha.
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Dec 13, 2017 21:44
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MinorInconvenience posted:The transferring of assets for a nominal fee is called a fraudulent transfer or conveyance (and is actionable under both state law and Federal bankruptcy law) and is the basis for a lawsuit. The law has remedies for most of these shenanigans. However, it requires litigation, which is expensive. People play shell games not because they can get away with it, but to make it expensive to recover--giving leverage for a settlement whereby they don't have to give everything back. Exactly what I was looking for, thanks. So, if this went to court and resulted in punitive damages over their ability to pay, they'd either have to file Chapter 7 and liquidate, or file Chapter 11 and find someone to pull their rear end out of any resulting fire? I don't see how they can't be trying to settle, none of the outcomes are any good. Coutts couldn't be a safe harbour; they wouldn't have any claim on anything held outside of CiG?
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Dec 13, 2017 21:45
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Derek Smart has covered himself in glory.
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Dec 13, 2017 21:45
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Hav posted:Steady on, you might have to play them. You know what, if that's what it would take to get a new Crysis game I would (and I've seen the videos and know the severity of this claim). That series is my religion. I have over 200 hours in Crysis 2 - and it's all singleplayer.
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Dec 13, 2017 21:46
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Trying my best to catch up with the thread, I just got to :
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Dec 13, 2017 21:47
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Sarsapariller posted:Citizen olympic-level mental gymnastics have begun: It's even part of the contract that they can't switch engines, which neither of these two seem to grasp
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Dec 13, 2017 21:47
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Kilmers Elbow posted:this is a far cry from an ele it's still a fair crisis
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Dec 13, 2017 21:47
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TheAgent posted:I HAVE HERE FOR THE COURT ANOTHER JPG I laughed out loud at work at this you have to be kidding. The SA $10 some of the best money spent just off the last couple of hours alone.
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Dec 13, 2017 21:47
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Hey Mr. Derek Smart know any cool games attorneys who might be willing to address this mess on the record. All the ones I'm reaching out to are saying they cant, presumably because they're all lookin' to take Star Citizen on as a client
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Dec 13, 2017 21:49
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quote:edit: that legal summary is up to 7k views already. There's going to be some ~games journalism~ really soon. Virtual Captain posted:7.7K views haha. 
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Dec 13, 2017 21:49
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Mangoose posted:Holy poo poo Tane
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Dec 13, 2017 21:50
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More r/starcitizen discord choice quotesquote:MuhKoInc - Today at 3:21 PM quote:deadbear - Today at 3:25 PM quote:deadbear - Today at 3:26 PM quote:deadbear - Today at 3:26 PM quote:Scrimshaw - Today at 3:27 PM quote:deadbear - Today at 3:28 PM quote:MuhKoInc - Today at 3:35 PM quote:MuhKoInc - Today at 3:39 PM quote:Solenicus - Today at 3:38 PM quote:Solenicus - Today at 3:38 PM quote:Solenicus - Today at 3:39 PM quote:deadbear - Today at 3:39 PM quote:Solenicus - Today at 3:43 PM quote:MuhKoInc - Today at 3:44 PM quote:ReeQueek ( ͡° ͜ʖ ͡°) - Today at 3:44 PM quote:@CMDR™ ⎛⎝cemges⎠⎞🎃 - Today at 3:47 PM quote:@CMDR™ ⎛⎝cemges⎠⎞🎃 - Today at 3:48 PM quote:MuhKoInc - Today at 3:50 PM Thank you whoever you anonymous goons are that showed up to send that deadbear guy into meltdown mode trying frantically to argue the semantics of what lumberyard even is and what the word "Engine" means. Looks like the backer tactic is to not try and engage with the lawsuit stuff because it's too damning. Instead they want to say lawsuits take years and shout down anyone talking about it. LALA I CANT HEAR YOU. NOTHING TO SEE HERE.
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Dec 13, 2017 21:51
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Kilmers Elbow posted:this is a far cry from an ele For a business living hand-to-mouth like CIG, this is pretty much the dictionary definition of "existential threat"
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Dec 13, 2017 21:52
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Hav posted:Exactly what I was looking for, thanks. They could file for Chapter 7 and hand it to a trustee--who would probably sue the insiders. Or they could file for Chapter 11 and try to "reorganize" while continuing to remain in control of the company. One of the main differences of insolvency law in the U.S. (and Canada under the CCAA) from Europe is that management can remain in control of a company in Chapter 11 bankruptcy. Games can be played there if the judge, U.S. Trustee and others are not paying attention. Also, because we don't have any transparency on U.S. loans to CIG (which are private for private companies, unlike in the UK), we don't know what liens might exist on CIG assets in the U.S. For all we know, Coutts (or other banks) could have liens domestically. However, other than the tax refund, Coutts' collateral (wherever located) might be just a bunch of worthless copyright-infringing garbage. Heh.
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Dec 13, 2017 21:53
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Ortwin will come out as the ultimate inverse-reverse-super-troll. Crytek: "gently caress, no one wants to license our engine as it's a kinda one-trick-pony, and sucks at multiplayer....we're running out of cash, and can't do anything about it" Ortwin: "I know this one guy - stupid as a brick - who once made Wing Commander...he still has a big following, and the gerne is kinda dead....they all long for a spacesim MMO" Crytek: "You can't make an MMO with our engine, it won't work!" Ortwin: "I know...." *evilgrin* *ortwin buys Crytek shares at min value*
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Dec 13, 2017 21:53
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Lack of Gravitas posted:at first glance I thought this said Kevin Mitnick and was like oh god another old school warlord has hit the building I did too!!! But i fgured it was too old a reference for these youngin’s around here, so I didn’t point it out. If it would have been Mitnick, I would have died laughing
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Dec 13, 2017 21:53
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VictorianQueerLit posted:Looks like the backer tactic is to not try and engage with the lawsuit stuff because it's too damning. Instead they want to say lawsuits take years and shout down anyone talking about it. LALA I CANT HEAR YOU. NOTHING TO SEE HERE. Look man, they gotta offload ships while they can. Don't judge them too harshly.
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Dec 13, 2017 21:53
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VictorianQueerLit posted:Looks like the backer tactic is to not try and engage with the lawsuit stuff because it's too damning. Instead they want to say lawsuits take years and shout down anyone talking about it. LALA I CANT HEAR YOU. NOTHING TO SEE HERE. https://www.youtube.com/watch?v=tXa0qJ7wO2U Just pretend the water is talking about lawsuits.
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Dec 13, 2017 21:55
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Hav posted:Exactly what I was looking for, thanks. When Chrysler rebirthed itself in 2009, it took acts of Congress, the White House, multiple court decisions, and the Supreme Court, to throw away its debt.
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Dec 13, 2017 21:55
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nnnotime posted:If there is no settlement, is there any chance Dr. Derek Smart will be called upon as an expert witness in this Crytek trial by the plaintiffs? That would make for very long court sessions, with Derek constantly demanding that they let him finish. Not sure if it would be worth it, but then judges sometimes must endure great trials for the sake of justice.
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Dec 13, 2017 21:55
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VictorianQueerLit posted:More r/starcitizen discord choice quotes Star Citizen is good!
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Dec 13, 2017 21:56
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Hav posted:In the UK, you can voluntarily fold and pass over your assets to another company while leaving your debts behind. It's the very function of shell companies (usually w/2 officers). Ironically I was writing up an effortpost on this with details of Ortwin and Chris's history with Ascendant Pictures when the news broke. But yes, if this had been filed in the EU first we could probably have expected a very slippery shuffle of assets and a steady pullout, possibly shutting down all the European entities altogether. Hitting multiple jurisdictions simultaneously is a smart move on the part of Skadden (even if it will be an expensive one). I wonder if we might see protective proceedings issued by CIG? They may not have the money for the ol' Italian Torpedo.
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Dec 13, 2017 21:57
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This lawsuit is good for star citizen.
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Dec 13, 2017 21:57
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Hav posted:Exactly what I was looking for, thanks. But I can point out that it's entirely possible there have already been settlement talks, and that they fell through. Attorneys often hand a copy of a potentially damaging suit to the other side before filing it and say "if you don't want this to see the light of day, pay us." Which is another indication that Crytek and Skadden are after a substantial amount of money.
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Dec 13, 2017 21:59
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MinorInconvenience posted:They named good ol' Ortwin in the complaint for one reason--disqualification. They wouldn't have Ortwin defend them anyways. He's not specialized in that.
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Dec 13, 2017 22:00
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CIG can still license out its groundbreaking technology to other developers, right?
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Dec 13, 2017 22:01
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XK posted:CIG can still license out its groundbreaking technology to other developers, right? The whale-milking machine belongs to Turbulent and Swofford
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Dec 13, 2017 22:02
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XK posted:CIG can still license out its groundbreaking technology to other developers, right? Yeah I'm sure companies will be queueing up to do deals with CIG.
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Dec 13, 2017 22:02
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Zzr posted:This lawsuit is good for star citizen. moving to the Rogue engine will make implementing all the backer fantasies way easier. Graphics are just limiting your imagination anyway.
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Dec 13, 2017 22:03
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XK posted:CIG can still license out its groundbreaking technology to other developers, right? Once they're a wholly-owned subsidiary of CryTek, sure!
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Dec 13, 2017 22:03
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Thank you, Crytek. 
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Dec 13, 2017 22:03
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Dec 13, 2017 22:03
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MERRY CRYMAS, THREAD
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Dec 13, 2017 22:06
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biglads posted:Yeah I'm sure companies will be queueing up to do deals with ftfy edit: Beaten
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Dec 13, 2017 22:06
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thatguy posted:So you're saying I won't be seeing a trailer for SQ42 in the theater on Friday? Maybe someone over at Disney reads this thread and will throw together a trailer for the upcoming legal battle, instead?
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Dec 13, 2017 22:07
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