We wrote earlier about the bankruptcy of Spellborn Works the developer of the Chronicles of Spellborn MMORPG. Community Manager Kelas has confirmed Frongster Asia Co. Ltd and Spellborn NV will create a free-to-play version of TCOS in 2010.

The subscription model will dissapear and a F2P micro transaction model will replace it. Any European or United States subscriptions still active will be credited at the time of the launch of the new version.

Read the press release and more information here.