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Jun
15
3D Realms Allegedly Hiding Money Offshore
The plot thickens:
In terms of compensation, Take-Two believes it is "entitled to an award of damages equal to...lost profits caused by Apogee's failure to timely develop and deliver" Duke Nukem Forever PC, "an award of damages equal to the DNF Advances with accured interest," and the incomplete source code.
3D Realms received two advances for Duke Nukem Forever: $400,000 from former publisher GT Interactive in 1998--a debt Take-Two assumed when it acquired DNF publishing rights--and $2.5 million from Take-Two Interactive in 2008.
That second advance was provided with the stipulation of "7% per annum" interest after September 2009, and an agreement that the sum would "become immediately due" if Duke Nukem Forever was not released by October 22, 2012.
Perhaps most shockingly, Take-Two claims that "upon information and belief, [3D Realms/Apogee Ltd.] has title to a substantial amount of funds deposited in an off-shore account, which Take-Two believes Apogee can use to fund its outstanding obligations."
3D Realms received two advances for Duke Nukem Forever: $400,000 from former publisher GT Interactive in 1998--a debt Take-Two assumed when it acquired DNF publishing rights--and $2.5 million from Take-Two Interactive in 2008.
That second advance was provided with the stipulation of "7% per annum" interest after September 2009, and an agreement that the sum would "become immediately due" if Duke Nukem Forever was not released by October 22, 2012.
Perhaps most shockingly, Take-Two claims that "upon information and belief, [3D Realms/Apogee Ltd.] has title to a substantial amount of funds deposited in an off-shore account, which Take-Two believes Apogee can use to fund its outstanding obligations."
More info and court document scans--thanks Voodoo Extreme!
