Posted earlier today at the Demons & Devils KS pageDear Backer,
Please review the following press release. In a nutshell, Pacesetter Games & Simulations has acquired the complete assets, material and intellectual, of Center Stage Miniatures.
Over the next two weeks, starting this evening, 31 January 2016, I will be liquidating CSM stock in order to finance further operations including returning as much value to those backers who have not received their pledges.
It is important to note that Pacesetter Games & Simulations is under no obligation, legal or fiduciary, to fulfill any obligations of Center Stage Miniatures including ALL Kickstarter campaigns. All CSM obligations were discharged as a matter of its bankruptcy proceeding. However, I will offer Demons & Devils backers, who have not received their pledges, an opportunity to obtain all, or most, of their pledge. There will be a cost to backers -- I will do everything possible to minimize that cost. It will also be actual cost. Again, these costs will be reduced by the sale of existing miniature stock.
There is much more to detail and I will do so in the next day. I will also set up a communication point -- I will not use the KS pages as, again, this campaign is defunct.
If you have NOT received your pledge, you must take a screen shot and forward it to me. I have a list of those who were sent packages, but not those who were not. I do not have the entire backer report. Also, if you ordered the King of Evil Dragons (your pledge was increased), send that also. The KoED will be handled separately.
The deadline to send your pledge is February 14, 2016.
Please feel free to repost this anywhere it will be viewed by potential D&D backers.
If you are a Tome of Horrors (I, II, or both) backer, information on that will follow in the next few days.
Contact: Bill Barsh
bbarsh@pacesettergames.comPACESETTER GAMES ACQUIRES PROPERTIES OF CENTER STAGE MINIATURES
January 28, 2016 -- The Bankruptcy Trustee has confirmed that he shall not administer the remaining assets of Center Stage Miniatures, and filed a No Asset Report on January 28, 2016, with the Court. In light of the intellectual property rights and claims asserted against some of the molds, he apparently concluded it would be too difficult and expensive to sell all remaining assets free and clear of all such claims. Furthermore, CSM's attorney speculates that the best purchase offer the Trustee received would most likely be exceeded by costs and expenses of Estate administration.
CSM's attorney explains that when a Bankruptcy Trustee "abandons" assets in this way, they are necessarily abandoned to the former principal(s) of a Debtor corporation or to the debtor in an individual case. They are not simply discarded.
Upon the filing of the No Asset report in the Bankruptcy Court, Pacesetter Games & Simulations immediately assumed control of former Center Stage Miniatures ("CSM") properties, both physical and intellectual. No financial remuneration has been paid for this arrangement, with the exception of a small rental reimbursement for the storage and preservation cost of CSM property pending final disposition of the corporate bankruptcy case. Under Bankruptcy law, the cost of such storage costs is statutorily reimbursable in the event the assets were ultimately administered for distribution to creditors.
"Providing value to former CSM customers is critical, despite the closure of the company. And I believe Pacesetter Games' priority has always been to do the right thing," said Matt Solarz, former CEO of Center Stage Miniatures. "Principal Pacesetter owner, Bill Barsh, has a long history of working with people in the "old school" gaming renaissance, and he is deeply committed to the hobby."
More news will be forthcoming from Pacesetter Games & Simulations at a later date.
