Earlier this year, Cheyenne Mountain Entertainment announced that the developer of the recent third person multiplayer shooter Stargate Resistance and the long-in-development MMO Stargate Worlds has filed for bankruptcy. Now the developer has issued a press release announcing that a receiver has been assigned by the bankruptcy court to run the company and check out their current financial situation. When a receiver is brought in, chances are that a company like Cheyenne is close to shutting down.

However the development of Stargate Resistance is still active as a number of Cheyenne's shareholders have formed a new company, Fresh Start Studios. Cheyenne has delivered all of Stargate Resistance's assets to Fresh Start who are now in charge of support and updates. Indeed a new update to the game was released earlier this week.

[Via Voodoo Extreme]