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Crytek required to post bond in ongoing case

KefoKefo Member EpicPosts: 4,229
https://www.courtlistener.com/recap/gov.uscourts.cacd.696437/gov.uscourts.cacd.696437.81.0.pdf

I assume they wont have an issue with getting the money to post the bond and the hilarity can continue
gervaise1Octagon7711

Comments

  • Tiamat64Tiamat64 Member RarePosts: 1,545
    Well, it was only 25% of what CIG asked for. If Crytek can't even cough that much up, they suck.
  • LinifLinif Member UncommonPosts: 332
    500k for the bond. Hot damn, I thought Crytek went under, where can they get that kind of money?
  • BalmongBalmong Member UncommonPosts: 170
    So did Crytek get their asses handed to them or what?
    It sounds like they are in the process of it happening. Through the courts assessment, CIG will be able to defend against CryTek's claims. Not an official ruling, but a "writing on the wall" kind of deal.
  • KefoKefo Member EpicPosts: 4,229
    Balmong said:
    So did Crytek get their asses handed to them or what?
    It sounds like they are in the process of it happening. Through the courts assessment, CIG will be able to defend against CryTek's claims. Not an official ruling, but a "writing on the wall" kind of deal.
    Not really. It’s more of a the judge saying that either side has the same chance of winning. 
  • UtinniUtinni Member EpicPosts: 2,190
    edited July 2019
    oh
  • BalmongBalmong Member UncommonPosts: 170
    Kefo said:
    Balmong said:
    So did Crytek get their asses handed to them or what?
    It sounds like they are in the process of it happening. Through the courts assessment, CIG will be able to defend against CryTek's claims. Not an official ruling, but a "writing on the wall" kind of deal.
    Not really. It’s more of a the judge saying that either side has the same chance of winning. 
    CryTek just had to prove they could cover CIG's loses if they lose, that's not a great sign. Could they still win? Sure, but their main strategies have failed for the most part thus far.
  • IselinIselin Member LegendaryPosts: 17,319
    Just more procedural trivia. Curious though... was CIG previously required to also post a bond?
    [Deleted User]Mendel
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  • KefoKefo Member EpicPosts: 4,229
    Balmong said:
    Kefo said:
    Balmong said:
    So did Crytek get their asses handed to them or what?
    It sounds like they are in the process of it happening. Through the courts assessment, CIG will be able to defend against CryTek's claims. Not an official ruling, but a "writing on the wall" kind of deal.
    Not really. It’s more of a the judge saying that either side has the same chance of winning. 
    CryTek just had to prove they could cover CIG's loses if they lose, that's not a great sign. Could they still win? Sure, but their main strategies have failed for the most part thus far.
    They have to cover 1/4 of what CI was asking for. And their main strategies have almost all been held up by the judge with only a few being dismissed.

    Considering they (Crytek and CI) were in settlement talks earlier and nothing could be reached I’d say both sides still think they can win
  • laseritlaserit Member LegendaryPosts: 7,591
    Torval said:
    Iselin said:
    Just more procedural trivia. Curious though... was CIG previously required to also post a bond?
    My thought as well and was going to ask the same question.
    CIG is the defendant, they are the ones being sued. Will the case be dropped if they are unable or unwilling to post a bond?

    There in lies your answer ;)
    [Deleted User]Vrika

    "Be water my friend" - Bruce Lee

  • ErillionErillion Member EpicPosts: 10,254
    When the court agrees in ALL cases "...that Defendants have a reasonable possibility of success on this claim." and reduces the bond to half a million bucks because  it "....will likely not jeopardize Plaintiff’s ability to continue its participation in the action."  thats a writing on the wall all right.

    The court reduces the bond because they do not want to help in pushing Crytek GmbH into insolvency. I did not know that Crytek has not filed its financial reports for 2017 and 2018 ... and they did NOT disagree when CIG told the Court that Crytek might be in financial trouble.  That supports the old argument that Crytek does all this because they really REALLY need cash.

    It is my understanding from the document that one of the reasons CIG does not need to post a bond is because they are an US, not a foreign company. And that it is the plaintiff, not the defendant that has to post a bond ("... “plaintiff resides out of the state or is a foreign corporation”...").

    *grabs some popcorn*


    Have fun




    [Deleted User]Kyleran
  • Asm0deusAsm0deus Member EpicPosts: 3,875
    edited July 2019
    Well if Crytek loses they may really live up to their name..Cry..... :D
    Erillion

    Brenics ~ Just to point out I do believe Chris Roberts is going down as the man who cheated backers and took down crowdfunding for gaming.





  • VrikaVrika Member LegendaryPosts: 7,370
    I think it's getting likely that CIG and Crytek would settle this.

    Crytek has already had to back off with so many claims that it looks unlikely they'd win a lot of money, and CIG can only win back their own attorney fees. It's at the point where if they continue fighting, the only ones who win will be lawyers.
    [Deleted User]
     
  • KefoKefo Member EpicPosts: 4,229
    Vrika said:
    I think it's getting likely that CIG and Crytek would settle this.

    Crytek has already had to back off with so many claims that it looks unlikely they'd win a lot of money, and CIG can only win back their own attorney fees. It's at the point where if they continue fighting, the only ones who win will be lawyers.
    The lawyers are generally the only ones who win in a lot of court cases lol.
    Erillionlaserit
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