HanbitSoft Responds to Hellgate: London Takeover

[GameBanshee News]

Voodoo Extreme is offering up a response they received from HanbitSoft concerning reports that they've taken over the Hellgate: London IP.

Please understand that the facts are (1) HanbitSoft is an exclusive licensee of both Hellgate and Mythos in Asia, with rights to sublicense the games; (2) in addition, HanbitSoft is a secured creditor who has been pledged the Mythos (but not the Hellgate) intellectual property as collateral for a loan; (3) Comerica, another secured lender, has been pledged the Hellgate intellectual property as its collateral for a loan; (4) Flagship Studios does not currently own the intellectual properties to either game, which are held in separate companies subject to the security interests of lenders, and Flagship Studios' interest in those companies is also pledged to its lenders; (5) it is unfortunate that Flagship turned down additional investments HanbitSoft offered to make that would have allowed it to keep its doors open, but HanbitSoft hopes to work with Comerica and some of the team at Flagship to see if there is a way to continue to generate content to keep Hellgate online in Asia and to finish the development of Mythos.

This doesn't sound good for Hellgate or Mythos. Even if this doesn't spell the end to either game, they will probably end up being developed by a Korean team which may or may not take them in completely different directions.