By looking at Tim Lang's profile on LinkedIn, I found out that he recently joined a company called Spinmaster Studios as Lead Designer. Tim told me that the US office of Nival is no more:

"I left Nival at the beginning of December. Due to some financial problems with their investors, the US office wasn't making as much money as they had expected, and they shut down the studio.

Spinmaster inc [is] the toy company that owns the Aquadoodle and Tech Deck toy lines. We're very early in the studio building phase, and are working on some online concepts."

That's a small blow to a potential Might and Magic X, for those of you who are still hoping to see this game become a reality. We wish the best of luck to Tim with his new projects!