Vapourware System Shock 3 by OtherSide Entertainment - taken over by Tencent!

[Atrachasis]

If Boston studio still has some developers, I'd imagine they will try to fund their own unannounced project (supposedly Thick as Thieves, a Thief-like game).

Googled out of curiosity, found this:
https://www.bostonherald.com/2007/12/14/thick-as-thieves-is-the-real-steal/

"Sitting in Boston’s Other Side Cafe, the three remaining members of Thick as Thieves expressed grief about losing Harmon’s instrumental talents, which include proficiency on the cello, guitar and keyboards."

So that's where they steal all those names from. Cafés and bands?

And ironically, the Other Side Café appears to have been shut down permanently.

 

[vortex]

Step#1: Zenimax/Bethesda should buy Otherside.
Step#2: Arkane with Otherside and Colantonio make SS3.
Solved.

 

[Zboj Lamignat]

Fabulous optimist

 

[Child of Malkav]

Step#1: Zenimax/Bethesda should buy Otherside.
Step#2: Arkane with Otherside and Colantonio make SS3.
Solved.

I don't want Arkane anywhere in close proximity to Otherside. The former have some talent, the latter don't.

 

[rusty_shackleford]

Otherside branch

how the fuck does otherside have branches?
who is funding this?

 

[Eli_Havelock]

Otherside branch

how the fuck does otherside have branches?
who is funding this?

As mentioned earlier, Starbreeze. Then there was UA's publisher, 505 Games, who seem to have advanced OS a bunch of money and got a handful of dogshit in return - now on Xbox and PS4!

 

[Katana1000S]

Just let it go folks, please.

Did anyone but the Efester really think it was going to be something worthwhile?

Look what happened to UA, what did anyone expect these buffoons to do with SS3 but ruin it.

?

Seriously.

I guess its a new on line RPG now where folk like Lobar keep digging new dirt and some feel compelled to out dig him? and so on and so forth, ad infinitum with suitable Sherlock Holmes drivel about a game no bastard was the slightest bit interested in, in the first place.

It was never going to be worthy of anything.

Just let it go folks (and your relentless Sherlock shit Lobar), FSS, its not happening and that's a bonus IMHO, why bang on about it?

SS3 by Otherside? lets just appreciate we had a lucky escape.

Lets move on.

 

[Eli_Havelock]

Fuck you, I'm still laughing at the morons who are still trying to find a publisher dumb enough to jump into this shitstorm, seriously thinking they are going to "save" "System Shock 3". :D

 

[Katana1000S]

Hey Efe, where is your confidence now on SS3 you village idiot? LOL

Admit it, you were wrong, its not happening fan boy.

 

[LESS T_T]

AI programmer also joined the same company.

https://www.gamesindustry.biz/articles/2020-03-11-lost-boys-interactive-opens-austin-studio

Lost Boys Interactive opens Austin studio
Former System Shock 3 design director Chase Jones and former Human Head co-owner Timothy Gerritsen join company

Wisconsin-based co-development studio Lost Boys Interactive has announced it will open a second studio in Austin, Texas.

Additionally, the company has hired Chase Jones as chief design officer, and Timothy Gerritsen as its COO.

Jones' most recent role was as design director on the seemingly-canceled System Shock 3 with OtherSide Entertainment. Prior to that, Jones worked in design roles at Atlassian, Microsoft, and Junction Point Studios.

Gerritsen joins the company from his prior role as head of studio at Fantasy Flight Interactive. He also worked as studio director for Irrational Games --notably during its work on BioShock Infinite -- and co-owner and director of business development for Human Head Studios.

"Opening an office in Austin allows us access to additional top-quality talent as we increase our development capability," said CEO Shaun Nivens.

"Austin and Madison share a lot of similarities that have created great game development communities, and being able to leverage the best aspects of both markets will expand our capability to create amazing game experiences for our partners and audience."

UI programmer John Sizemore also joined this company.

And this guy joined Unity.

Francisco Cruz III, Senior Environment Artist

Also confirmed. One of the ex-Arkane artists: https://www.linkedin.com/in/franciscoc3/

Sr Env Artist

Company Name OtherSide Entertainment
Dates Employed May 2018 – Nov 2019
Employment Duration 1 yr 7 mos
Location Austin, Texas Area

System Shock 3
+ Environment modeling.
+ Creepy lighting (Enlighten).
+ Technical arts (Emissive blinks, scrolls, upvectors, and WPO in Shader graphs).
+ Performance.
+ Unity, HDRP.
+ Surviving Shodan.

 

[Child of Malkav]

"Lost boys studio"? A somehow fitting name, all things considered.

 

[Katana1000S]

Lost Boys Interactive, spat my coffee all over the screen there

The disaster that was UA and packs of lies that were given during its development, the complete and utter failure that was SS3 (thank God) and also total denial its over for that title, no closure what so ever and now they want to start again .. this is crazy, this is nuts .... checks date ... nope its not April 1st.

What on earth do they hope to develop this time and ruin?

You could not make this up, it has to be a wind up

 

[Bigg Boss]

This whole thing was a fucking travesty. Thank God I knew to dismiss hope and go straight to cynicism.

 

[Terenty]

When are they gonna man up and admit the game is dead and buried? Warren, where you at?

 

[Empary]

Woohoo, no more nostalgia cashgrabbing

 

[MasterLobar]

It's pretty clear what Otherside does right now. Everyone is waiting for them to close down, but they aren't closing. They fired everyone and are now keeping OS formally alive as a shell company. Why? Because if they officially close or go bankrupt, all their work on SS3 and the publishing rights go to Starbreeze. Starbreeze has a $6.8 million claim against Otherside because of the investment they made in SS3 which Otherside has to repay.

The OS guys are still hoping that Starbreeze will provide funding to complete a much smaller and less ambitious verison of the game so as to not lose their entire $6.8 million investment for nothing. Once they go bankrupt, Starbreeze can decide whether to do this with a new team. As long as OS is alive on paper, Starbreeze can't do anything.

By not declaring bankruptcy and maintaining a letter box somewhere, Otherside is holding Starbreeze hostage. "Pour more money in our crap company or your $6.8 million will have been wasted for nothing."

Starbreeze is in a terrible situation and the sociopaths at Otherside are callously taking advantage of it. Biting the hand that fed them $6.8 million.

 

[toro]

It's pretty clear what Otherside does right now. Everyone is waiting for them to close down, but they aren't closing. They fired everyone and are now keeping OS formally alive as a shell company. Why? Because if they officially close or go bankrupt, all their work on SS3 and the publishing rights go to Starbreeze. Starbreeze has a $6.8 million claim against Otherside because of the investment they made in SS3 which Otherside has to repay.

The OS guys are still hoping that Starbreeze will provide funding to complete a much smaller and less ambitious verison of the game so as to not lose their entire $6.8 million investment for nothing. Once they go bankrupt, Starbreeze can decide whether to do this with a new team. As long as OS is alive on paper, Starbreeze can't do anything.

By not declaring bankruptcy and maintaining a letter box somewhere, Otherside is holding Starbreeze hostage. "Pour more money in our crap company or your $6.8 million will have been wasted for nothing."

Starbreeze is in a terrible situation and the sociopaths at Otherside are callously taking advantage of it. Biting the hand that fed them $6.8 million.

Nonsense. SS3 will be the best SS game ever.

 

[Terenty]

It's pretty clear what Otherside does right now. Everyone is waiting for them to close down, but they aren't closing. They fired everyone and are now keeping OS formally alive as a shell company. Why? Because if they officially close or go bankrupt, all their work on SS3 and the publishing rights go to Starbreeze. Starbreeze has a $6.8 million claim against Otherside because of the investment they made in SS3 which Otherside has to repay.

The OS guys are still hoping that Starbreeze will provide funding to complete a much smaller and less ambitious verison of the game so as to not lose their entire $6.8 million investment for nothing. Once they go bankrupt, Starbreeze can decide whether to do this with a new team. As long as OS is alive on paper, Starbreeze can't do anything.

By not declaring bankruptcy and maintaining a letter box somewhere, Otherside is holding Starbreeze hostage. "Pour more money in our crap company or your $6.8 million will have been wasted for nothing."

Starbreeze is in a terrible situation and the sociopaths at Otherside are callously taking advantage of it. Biting the hand that fed them $6.8 million.

So if Otherside closes down they will still have to pay this $6.8 million? Like a debt or smth?

 

[MasterLobar]

If they close down and they have more liabilities than assets (Starbreeze's payment is a liability, rights to UA is a - worthless - asset), the creditors take control of the company and get all the assets. Assuming Starbreeze is the only relevant creditor (they are certainly the biggest one by far), that means Starbreeze essentially takes over the firm.

That would mean that Starbreeze owns UA as well as all intellectual property associated with SS3 (unless OS top guys destroy it before bankruptcy, which might be illegal) and the publishing rights to SS3. Since Otherside Entertainment is then owned by Starbreeze, they would certainly nullify the $6.8 million repayment (doesn't make sense to repay a liability to yourself).

They could then either decide to mothball the whole company or they could decide to try to publish a game on the basis of what OS has so far created. Maybe a much smaller and less ambitious game, possibly together with another studio or second publisher. Should be doable with a few million $.

All that is impossible if the OS guys simply refuse to declare bankruptcy and keep the company open as a shell company at virtually no cost (whole team is fired, office is vacated). Their repayment is only due once SS3 will be published, and if that's never the case, Starbreeze never gets repaid.

Then the OS guys will say: "You don't want that $6.8 million go down the drain for good, right? Then better give us more money and we make the game for you. Otherwise you never even have the chance to be repaid."

 

[Atrachasis]

If they close down and they have more liabilities than assets (Starbreeze's payment is a liability, rights to UA is a - worthless - asset), the creditors take control of the company and get all the assets. Assuming Starbreeze is the only relevant creditor (they are certainly the biggest one by far), that means Starbreeze essentially takes over the firm.

Again, this is not what happens in a case of bankruptcy. In a typical Chapter 7 bankruptcy, a trustee will take over and sell off the assets (this is what "liquidation" means). The proceeds will be distributed among the creditors, and in most cases, this will be only a fraction of the actual debt, and the creditors will write off the rest.

There is no automatic mechanism for the creditor to acquire a share of the bankrupt company. I mean, why would they ever want to?

That is, unless the asset or company shares have been explicitly pledged as a collateral to the creditor; are you aware of such an agreement? In that case, yes, the IP may go to Starbreeze. But if not, rejoice - your favorite RPG developer - say, Bethesda - might still get a chance to pick it up!

 

[MasterLobar]

I'm not a lawyer so I am not certain, but I think the scenario you are describing is only valid if the firm is supposed to continue operations on a going concern basis (at least for some time). Then you file for chapter 7 protection. Chapter 7 (temporarily) protects the substance of the firm from creditors who might want to go in and fire-sale all the assets, A trustee is then appointed to run the company or appoint a new management. It also protects employees whose jobs might be saved if the company can saved by the trustee and a new management. If it doesn't make sense to continue operations, I still believe the creditors take over the company and all the assets. They can then either wind down the company or try to continue somehow and they can either sell the assets or put them to their own use.

Correct me if I'm wrong.

 

[Atrachasis]

If it doesn't make sense to continue operations, I still believe the creditors take over the company and all the assets.

Well, on that one point we'll just have to agree to disagree until someone more knowledgeable in these matters weighs in, because I cannot claim to know for certain either, but that point above is what I believe to be untrue - AFAIK, at least in most parts of Europe and in the U.S., it's the trustee that oversees the winding-down of the company, and not the creditor.

Perhaps in some jurisdictions, the creditors might get to exert some sort of administrative control over the process. But ownership of a bankrupt company is pretty much the last thing I would want as a creditor (even if it's just to wind it down).

 

[Nyast]

If they close down and they have more liabilities than assets (Starbreeze's payment is a liability, rights to UA is a - worthless - asset), the creditors take control of the company and get all the assets. Assuming Starbreeze is the only relevant creditor (they are certainly the biggest one by far), that means Starbreeze essentially takes over the firm.

Again, this is not what happens in a case of bankruptcy. In a typical Chapter 7 bankruptcy, a trustee will take over and sell off the assets (this is what "liquidation" means). The proceeds will be distributed among the creditors

I think you might be right about that, but the question is what happens when nobody wants to buy the assets ( / at a fair market price ). In that case, I think it's possible that they do indeed get redistributed to the creditors as collateral.

 

[Doctor Sbaitso]

If they were smart about it they issued shares to a holding company granting priority for repayment of debt in the event it goes bankrupt. Much as some would like the company to simply be dissolved and shut down that often doesn't happen for years. Shutting their doors is a more likely scenario but we have no clue what is going on and any conjecture is wholly navel gazing.

 

[rusty_shackleford]

nobody wants to buy the assets ( / at a fair market price )

I offer five dollars