Epic Games announced the opening of Impossible Games, a newly formed studio risen like a phoenix from the ashes of Kingdoms of Amalur: Reckoning dev Big Huge Games. Epic acquired the promising team earlier in 2012 after Curt Schilling's 38 Studios crumbled under the weight of financial debts owed to the state of Rhode Island.
Impossible is headed by former Big Huge boss Sean Dunn, and his team's first project is confirmed to be Infinity Blade: Dungeons, the upcoming hack-and-slash RPG for mobile devices based on the universe created by ChAIR. The former Big Huge team has been operating since June under the name Epic Baltimore, so today's news amounts to a name change and a confirmation of the studio's inaugural effort.
In related news, Bloomberg reports that the Rhode Island Economic Development Corp. and Bank of New York Mellon Trust Co. have been approved to take possession of the now-defunct 38 Studios' assets. The two groups -- one representing the state of Rhode Island and the other the trustee on the bankrupt studio's $75 million loan -- now have ownership of all assets relating to both Reckoning and the unfinished, untitled, Amalur-set MMO known only as Project Copernicus.
The important takeaway here is that the actual game content will be preserved as the valuable property that it is. Rhode Island and BNY Mellon are now in the process of transferring the data from the former studio's computers -- assets that will ultimately be sold off as part of the bankruptcy process -- to new servers. This process is expected to unfold over a period of weeks, after which it's a safe bet that both parties will be looking to sell of their new assets in an effort to recoup the unpaid debts.