More Reviews
REVIEWS Klang Review
Less of a symphony, more of a cacophony.

Sonic Boom: Fire & Ice Review
It's not quite back to what was great yet, but there's a spark still here.
More Previews
PREVIEWS Let It Die Preview
Seems like Suda51 saw Frozen, played Dark Souls, and then got the lyrics mixed up.
Release Dates
NEW RELEASES FIFA 17
Release date: Out Now

Shu
Release date: 10/04/16

WWE 2K17
Release date: 10/11/16

Skylanders Imaginators
Release date: 10/16/16


LEADERBOARD
Read More Member Blogs
FEATURED VOXPOP oneshotstop
Welcome Back to the West
By oneshotstop
Posted on 08/01/16
The only thing that stops the dust is the rain. It’s a sweet reprieve, but there is no middle ground. The land is either as dry as the Betty Ford clinic, or as wet as the ocean floor. Everything can be seen from the ridge overlooking Armadillo as John Marston gently bounces along atop...

GAMING NEWS

Bank Sues Konami For Millions For Def Jam Rapstar Loan

Posted on Thursday, May 24 @ 09:12:23 PST by Keri_Honea


Uh-oh...looks like someone hasn't been paying their bills! That someone is Konami, who borrowed $14 million from City National Bank (CNB) to publish Autumn Games' Def Jam Rapstar. We know what happens when banks don't get their monies, don't we? They either foreclose on your house or sue your ass, and CNB chose to do what they had rights to: the latter.

CNB claims that Konami said they would repay the loan from game sale revenues, and apparently that hasn't happened. Konami, according to the bank, claims that they are not required to repay the loan from the game's profits.

Straight from the petition's mouth, it reads: "Rather than paying game-related proceeds directly to CNB as agreed, defendant have kept all game-related proceeds for themselves and have refused to remit any such proceeds to CNB." CNB also alleges that Konami made "unrealistic predictions" by saying Def Jam Rapstar would sell 2.5 million copies in its first year. (Excuse me while I go laugh loudly in a corner.)

CNB is seeking over $8.9 million in damages, but the petition isn't clear if this is in addition to the amount due on the loan or the total amount they are seeking. I assume it's the former.

[Source]
Related Games:   Def Jam Rapstar
Tags:   Konami
FOLLOW ME ON TWITTER. YOU KNOW YOU WANT TO.



comments powered by Disqus

More On GameRevolution