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Thread: Star Citizen Discussions v7

  1. #8281
    Originally Posted by Zyll Goliath View Post (Source)
    Right on!

  2. #8282
    Originally Posted by Lysander lysan View Post (Source)
    The elephant in the room here is the bank? remember? They want their money too, and if you know banks like I do, they always get their pound of flesh. maybe CIG will be forced to lay off a large chunk of the work force and only keep a small core of the developers to keep the game moving,
    however that will mean that all those big overheads like top management salaries need to be cut or removed to keep those who actually do the job.

    Knowing how that works in CIG not gonna happen.
    The elephant isn't so much the bank as it is the loan itself. There were numerous potential reasons why the bank would want to get its money back early, and being first in line if the borrower gets sued — if nothing else so they can get first in line once the money starts pouring out.

    The problem is that, based on what's been shown in public, there's good reason to believe that the pledge used in that loan was not actually CIG's to pledge. They could potentially be borrowing against assets that were in part owned by or owed to a third party. This moves it beyond the already chilling case of “we want the money back… you know, now-ish” into the realm of “…oh, and here's Her Royal Majesty's Fraud Squad to investigate the no longer civil bank/mortgage fraud you've just committed.”

    Even if, as some of the Citizen Defence Force try to argue without anything to back it, CIG has somehow paid back their payday loan (doubtful since said payday hasn't happened yet), the bank will take notice of the implications of this case. Be it themselves or some other back that gets contacted through back-channels, the next time CIG comes cap in hand and try to borrow against everything they own, someone will raise an eyebrow and ask state “so, the last time, you apparently hid a lot of liabilities and even tried to borrow against those liabilities… hmm?” Securing a loan under those circumstances will suddenly start to include not just everything they own — twice over — but a couple first-, second-, and third-born (and a few cousins, for good measure) as well.

    In this and previous threads, Enron has been used as a point of comparison. It's worth noting that what finally caused the whole thing to come crashing down over just a few weeks was that they suddenly could not get any loans.

  3. #8283
    DS currently has a long but measured explanation of events on Twitter.

  4. #8284
    Wingman's Nuts December 2012, looks 100% legit, please give them $170.000.000 to make a video game. Funny how 5 years later Star Citizen is still mostly talking heads:

  5. #8285
    Originally Posted by Barking_Mad View Post (Source)
    DS currently has a long but measured explanation of events on Twitter.
    Hah! This is fracking glorious
    "Crobby! We gotta go back! Back to before the "engine switch!" Something's gotta be done about your lawsuits!"

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