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Sep
30
2011
It's likely we get paid by FTP!
Posted in Poker | View Comments (20)
 

http://www.pokerstrategy.com/news/wo...reement_52195/

Quote:
"Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement

Dublin, Ireland (September 30, 2011) Laurent Tapie, Managing Director of ‘Groupe Bernard Tapie’ announced today that the group has signed an exclusive agreement with the Board of Directors of Full Tilt Poker to acquire the company and all of its associated assets.

This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.

‘Groupe Bernard Tapie’ has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability, the most well-known being the sport equipment giant, Adidas."

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Comments
09-30-2011
jonstermonster is offline jonstermonster
omgmggogmgokmgogmogmogmogmgomgomgomgomgomgmgmgomgogmgmogmogmogmogmgomgomomgoomgm ooomgomgoomgomgoogomgmogomgommgmogmogmogomgmomogmgmoggomgmogogmmogomgmoomg
if this happens this is almost life changing. omg 1 time.
09-30-2011
jonstermonster is offline jonstermonster
what a fricking rollercoaster. HOLD!
09-30-2011
jonstermonster is offline jonstermonster
09-30-2011
Probability is offline Probability
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09-30-2011
grizy123 is offline grizy123
Still a bit to go since it's pending DOJ.
09-30-2011
Probability is offline Probability
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here is a good post from 2p2 addressing that...

Quote:
Originally Posted by SGT RJ
Obviously a lot of details still need to get worked out/revealed, but I barring evidence to the contrary I'm assuming the following:

1) The DOJ is already aware of the major parts of this deal
2) The investors have already at least discussed a possible arrangement with the DOJ that would satisfy the civil forfeiture against FTP assets, but that agreement is still not completely worked out, hence the need for negotiations.
3) The DOJ will be willing to give up rights to the FTP assets for a reasonable fine and will simply proceed with the case against the individuals.
4) The investors are aware of a ballpark fine figure that the DOJ is looking for, and part of the negotiation will involve how much of the fine can be taken out of the already frozen funds.
5) Player repayment will almost certainly come from the investors, not the DOJ. It would be a logistical nightmare for the DOJ to try to handle player repayment.
6) FTP and the investors would not have made this announcement without being reasonably sure that the deal was going to get finalized, barring severe complications.

I might be wrong, but that's my thought process right now, which is why I think this announcement is a significant development and should give people a lot of hope for getting paid back. Best of luck to everyone with FTP funds locked up.
09-30-2011
klamsauce is offline klamsauce
oh thank god. fingers crossed!
09-30-2011
ultrasPNT is offline ultrasPNT
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Don't want to be Buzz Killington here but this Bernard Tapie is a shady individualhttp://en.wikipedia.org/wiki/Bernard_Tapie
From what I remember he has a permanent ban from football for rigging some games, he was sent to jail for that, he got Marseille relegated because of that, he says he is bankrupt, he was bailed out from taxes in France or something like that in the Adidas affair and has some shady political connections, from what I know he is something like Clay Davis in The Wire so you get the picture.
Maybe there's some french members better informed than me that can say more about Groupe Bernard Tapie and good luck to all of you who got money stuck there.
09-30-2011
JamesMa is offline JamesMa
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ILL GO OUT AND BUY SOME ADIDAS RIGHT NOW
09-30-2011
JamesMa is offline JamesMa
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hopefuly the doj doesnt fuck shit up
09-30-2011
Robin_Ripper is online now Robin_Ripper
market price from ftp went from $0.13 to $0.80
10-01-2011
jonstermonster is offline jonstermonster
anyone have link to where people are selling their ftp money?
10-01-2011
aejones is offline aejones
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i don't think people are actually paying 80c yet. im sure it's more like 60-70c. a lot of ppl are trying to sell at 80/85c tho.
10-01-2011
grizy123 is offline grizy123
I think 60-70c is about neutral EV now actually, assuming no counterparty risk.
10-01-2011
petenilson is offline petenilson
Hold up!!!!!!!!!!!!!!
10-02-2011
Laser Show is offline Laser Show
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I'd love to be wrong, but this doesn't pass the smell test for me. SJT RJ's post makes a lot of assumptions about the DOJ being reasonable that I wouldn't assume at all, and I definitely disagree w/ the notion that FTP/interested investor wouldn't make this announcement w/o being confident it was a good bet to go through. Lots of reasons they would contrive something like this
10-03-2011
ImThaGrandMaster is offline ImThaGrandMaster
ImThaGrandMaster's Avatar
I really hope you're right man. I wrote my FTP money off months ago. Would be a nice boost for me

What about AP/UB money? Haven't been following. As good as gone?
10-04-2011
toocrispy is offline toocrispy
ap is going at .10/1 atm
10-05-2011
bw07507 is offline bw07507
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can u guys still cash out $250/week or whatever at AP?
11-18-2011
btimm is offline btimm
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Things sure look a lot better right now. )
 
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