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Old 01-26-2012, 10:06 AM   #1
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Ferguson threatens GBT deal

http://www.subjectpoker.com/2012/01/...bank-accounts/

@mods: please just ignore in case someone was quicker with the thread (as of now none was released yet)
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Old 01-26-2012, 07:14 PM   #2
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Re: Ferguson threatens GBT deal

I am not surprised by this. A bunch of businessmen/fraudsters collected hundreds of millions of dollars over a few years. They lent money to each other, to the company and from the company. Once the deal is finalized, it will be very much more difficult for any owner that feels he didn't get his fair cut of the [albeit ill gotten] proceeds to retrieve it from the others. Of course, it's all made more difficult if the interested parties spent a lot of their money. Then, the seemingly minor matter of redistributing $14.3M (maybe 3% of all the dividends ever paid out?) adds up to a lot...

But, doesn't Jesus need a partner to have a real threat of this nuclear option? He owns ~19% of the voting shares. 80% is plenty to OK the deal, right?

Hopefully having it on S:P will put pressure on them to move forward with an agreement more quickly.
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Old 01-27-2012, 04:38 PM   #3
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Re: Ferguson threatens GBT deal

From the amended civil complaint:

Quote:
109. Defendant Ferguson was allocated approximately $85,161,305.88 in distributions. Tiltware records reflect that approximately $25 million of this sum was actually transferred to Ferguson’s personal accounts, with the remaining balance characterized as “owed” to Ferguson. Of the approximately $25 million transferred to Ferguson, Full Tilt Poker records reflect that at least a portion of these funds were deposited into an account held at Citibank, N.A., in the name of Chris Ferguson, numbered 40039049628.
At $85.2 million, Ferguson has the highest total of distributions, according to the complaint. Bitar received $41 million, Lederer $42 million and Furst took $11.7 million. If Ferguson/Imrich file their injunction -- regardless of its of success -- are Bitar, Lederer and Furst in a similar position that they could follow suit?

At the very least, it seems Ferguson's actions will delay the GBT deal. I hate to think it's just the first of four rounds.

Edit: Ah, it looks like DF has somewhat addressed this. In a response to a comment, he wrote, "There is no reason to think that the 'Ferguson mess' as you call it, has been the reason for any delays to date." So I feel a bit better.
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Old 02-16-2012, 12:05 AM   #4
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Re: Ferguson threatens GBT deal

You don't know the entire story. You cannot make assumptions on Chris Ferguson. Over time, maybe people will see his hands were tied. Give it time and give him a chance.
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Old 02-16-2012, 08:39 AM   #5
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Re: Ferguson threatens GBT deal

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Originally Posted by Forces Rushing View Post
You don't know the entire story. You cannot make assumptions on Chris Ferguson. Over time, maybe people will see his hands were tied. Give it time and give him a chance.
Did they cut out his tongue as well? It's been 10 months. Time to pay up.
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Old 02-16-2012, 10:33 AM   #6
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Re: Ferguson threatens GBT deal

Speaking of this issue, whats going on with it? Anyone know if CF has dropped his claims?
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Old 02-16-2012, 02:55 PM   #7
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Re: Ferguson threatens GBT deal

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Originally Posted by Mycology View Post
Speaking of this issue, whats going on with it? Anyone know if CF has dropped his claims?
They walked back their threats really quickly after the article came out.
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Old 02-16-2012, 05:12 PM   #8
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Re: Ferguson threatens GBT deal

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Originally Posted by NoahSD View Post
They walked back their threats really quickly after the article came out.
All the more reason why you and your crew are needed back at Subject: Poker , fighting the good fight.
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