CME press release about receivership
Today CME/Firesky has released a statement regarding the outcome of the court praceding that have being going on for the last few weeks. Here is the CME/Firesky statement
PRESS RELEASE – FOR IMMEDIATE POSTING TO COMPANY WEBSITE
DATE: MARCH 19, 2010
The Maricopa County Superior Court has ordered that Edward “Ted” Burr of Sierra Consulting
Group (“Sierra”) be appointed as receiver to take over the assets, affairs, management, operation and
control of Cheyenne Mountain Entertainment, Inc. (“CME”) and its subsidiary Cheyenne Mountain
Games, Inc. (“CMG”). The term “Receiver” shall include assistants to Mr. Burr employed at Sierra. Dale
Belt, a Managing Director at Sierra, has begun the process of complying with the court order.
Additionally, on Thursday afternoon of March 18th, Judge Sarah Curley of the United States Bankruptcy
Court – District of Arizona ruled that the Receiver shall be recognized as the controlling managerial
representative for CME in its Chapter 11 proceeding filed on February 12th.
The above actions have effectively ended the six week battle over control of the companies that
began on February 3rd with the filing of a complaint in Superior Court by shareholder plaintiffs
requesting appointment of a Receiver. As Receiver, Mr. Burr and Mr. Belt (and associates as necessary)
will have full control over all aspects of CME and CMG. A copy of the order appointing receiver is
attached. Communications from any parties other than the Receiver (written, email, phone or
otherwise) should be ignored until further notice by the Receiver.
It is uncertain at this time what the effect of these actions and the pending bankruptcy
proceeding will have on the Company’s operations and financial condition. The Receiver will be
attempting to bring stability to the Company as it seeks solutions to its financial problems.
About Cheyenne Mountain EntertainmentTM
Cheyenne Mountain Entertainment is an interactive entertainment company located in Mesa, Arizona.
Cheyenne Mountain Entertainment’s first product is a 3rd person shooter based on the popular science
fiction television series, StargateTM SG‐1 and StargateTM Atlantis. For more info on the company, visit the
company’s website at www.cheyenneme.com. For more info on Stargate Resistance, visit the new
community site at www.stargateresistance.com
FireSky is a publisher and part of the Cheyenne Mountain Entertainment group of companies. FireSky’s
current published product is Stargate Resistance, based on the longest‐running U.S. science fiction
television series StargateTM SG‐1 and StargateTM Atlantis which are officially licensed by MGM Interactive.
For more information, visit the company’s website www.firesky.com and the Stargate Resistance
community site at www.stargateresistance.com.
Download:Receivership Press Release_3-19-10
Author: Aaron Meehan
Hi, I’m the creator of SG Gaming Info. When I’m not working on my writing or creating content for this site’s YouTube channel, I like to relax and enjoy character driven story games.