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If they didn't give more details that makes me think that the relationship between P1 and Bandai may have soured. Wonder if maybe Bandai kept rejecting their statue prototypes or wanted changes P1 wasn't willing to make. So P1 just decided to cut their losses and not do anything with the license.
Wouldn't surprise me. Not the first time a Japanese licensor is difficult to work with. Just ask Funimation how difficult Studio Khara was to work with when they were trying to dub and release Evangelion 3.33.
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