More Reviews
REVIEWS Firefall Review
Repetitive gameplay makes this fall a little boring.

The Walking Dead: Season Two Review
At this point, you’re not coming back for the zombies. Let’s get down to business.
More Previews
PREVIEWS Geometry Wars 3: Dimensions Preview
Put up some movie glasses, because Geometry Wars is entering the third dimension.
Release Dates
NEW RELEASES Destiny
Release date: 09/09/14

FIFA 15
Release date: 09/23/14

Ar Nosurge: Ode to an Unborn Star
Release date: 09/23/14

Persona 4 Arena Ultimax
Release date: 09/30/14


LATEST FEATURES And I Was All "Hell Yeah I'll Play a New Dreamcast Game"
I just played a Dreamcast game that was released in... wait, 2014?

A Comprehensive Guide to Dealing with Controversy in the Video Game Industry
Need help wading through the latest misogyny/homophobia/racism/corruption debate in the gaming industry? Paul Tamburro’s here to help!
MOST POPULAR FEATURES The Updating List of PAX Indies
We're heading to PAX Prime! Are you looking to check out a few unique indie games while you're there? UPDATED: Dragon Fin Soup, Dungeon of the Endless,

LEADERBOARD
Read More Member Blogs
FEATURED VOXPOP samsmith614 Since game design is a business, I decided to see what's really selling well for the PS4. I did this search a week ago, and at the time, out of the top 20 bestsellers on Amazon 10 had not even been released yet. By now some have been released. But others still have not. And yet others...

GAMING NEWS

Bank Sues Konami For Millions For Def Jam Rapstar Loan

Posted on Thursday, May 24 @ 09:12:23 Eastern 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


More from the Game Revolution Network




comments powered by Disqus

More On GameRevolution