Director Tetsuya Nomura said 'even within the company it's a very delicate problem. The [release] date when we can concretely lift the ban has been decided and we are preparing for that moment. Maybe the details as to why information couldn't be released might be touched upon at the next information announcement. I'm sorry it's already overdue, but please wait just a little more."
Like EA, Square Enix has gone through it's share of financial trouble due to poor sells and over expansion. Developers on the Tomb Raider project mentioned how the game could have been better if they had more money, so I'm wondering if this is the same scenario.
Final Fantasy Versus XIII was announced in 2006 along with Final Fantasy Agito and FF XIII as a trio set in then new Fabula Nova Crystallis universe. Then in 2012, a rumor floated saying the game was cancelled.
Who know? Nothing confirmed or denied, but I doubt they'll trash the project. I'm sure we'll see something out even if it's half ass.