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Why Curt Schilling won't testify voluntarily in RI's 38 Studios hearings

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Curt Schilling won't voluntarily testify in the Rhode Island House Committee on Oversight's 38 Studios hearings because he is undergoing cancer treatments, according to a document obtained by The Providence Journal

Schilling's lawyer, Edward J. Hayes, sent the letter to Chairwoman Karen MacBeth explaining why the former Red Sox pitcher and founder of 38 Studios would not testify. 

“As you are probably aware, Mr. Schilling was recently diagnosed with cancer and has been undergoing extensive treatments,” Hayes wrote. “As a result we are not in a position to make him available to your committee at this time and quite frankly, are not in a position to meaningfully discuss with Mr. Schilling whether such an appearance would be appropriate after his illness is fully treated.”

In 2010, the Rhode Island and The Rhode Island Economic Development Corporation (now known as the Rhode Island Commerce Corporation) backed a $75 million loan guarantee to 38 Studios. Intended to bring the developer and 450 jobs to the state, 38 Studios declared bankruptcy in June 2012. Later that year, the state filed suit, maintaining that it was not made aware of the associated risks. 

Rep. MacBeth became chairwoman of the Committee on Oversight in early April. A critic of the loan guarantee, she twice proposed legislation that would prohibit further payments.

Last week, a study by SJ Advisors concluded that, should Rhode Island choose to default on payments still due, it could reduce the states's bond rating to junk status.