14 DAY TRIAL // Cheyenne Mountain, the developer of Stargate Worlds, has filed for bankruptcy as shareholders in the company also filed legal action against the former chairman and the Chief Executive Officer of the company alleging that they did not act in the best interest of the business.
An official statement posted on the Stargate Worlds forum reads “Cheyenne Mountain’s corporate structure has undergone some dramatic changes in the last few weeks, and that has resulted in various actions such as the filing for Chapter 11.”
The hope seems to be that the bankruptcy procedure will not lead to the closure of the development studio but will allow for all the financial issues to “be sorted out in the legal and proper manner, and all of us on the development side of things hope it’s done as quickly as possible” so that work can continue on the Stargate MMO.
It appears that one of the main problems Cheyenne faces is linked with Garvick Properties, a company owned by ex-chairman Gary Whiting, who did not honor some payment obligations and forced the default on debt.
Cheyenne was born in 2005 with the stated aim of capitalizing on the popularity of the Stargate intellectual property and planned an ambitious MMO project that would allow the player to take on the role of a team member who explores far flung worlds and takes on the various enemies of humanity. Development went along pretty slowly with the company needing three years to secure full funding for its project.
The studio also created and released a third person shooter called Stargate Resistance, hoping the revenue derived from it would be enough to fund the creation of the more ambitious MMO project. It's not clear whether the MMO will ever be delivered to gamers, considering the financial issues at the company and the slow pace of the project, which did not manage to come out when the Stargate television series was at its peak.