I think this interview sums it up nicely for virtually everyone involved with FTP, including Lederer.

http://pokercast.twoplustwo.com/poke...?pokercast=199

The tl/dl version is:

1. I wasn't involved running it.
2. I signed a contract and got paid according to the contract.
3. I feel bad people didn't get their money back.
4. Therefore, don't blame me.

I dunno. I shouldn't make generalizations about these people. I've only talked to some of them, and they're all unique of course.

This isn't about sponsored pro salaries. It's about the dividends from an insolvent company. These people have a clear responsibility to return that money. I honestly wonder if they get how clear that is to everyone screwed over my this.

Do any of them that you've talked to get it (besides Durrr)?

apparently there was a deadline set for end of Feb. for the conclusion of the deal, which they have now extended according to pokerstrategy:
http://www.pokerstrategy.com/news/wo...-made.-_57107/

Because you can do an asset purchase (accounts receivable), and not purchase the whole company, including the liabilities (accounts payable).

It sounds like fraud by Taipe group going after receivables before inking a deal -

and they must be cash broke as well to not have something finalized by now, unless they figure the value of the FTP shell company is dropping 10% per month, and they will be able to get it for pennies on the pennies a year from now.

+1

Hey, I'll consider buying FTP too...everyone who owes them money, just send me a check. After they clear, I'll be happy to....change my mind. Only a fool would send money to those fools before anything legal is in place...which quite frankly is an oximoron, "legal" lmfao

I wouldnt pay either. Seems they are looking for scapegoats in case the purchase falls through.

i have a tough time believing if this is so true, how can people believe that he gives money to charities from his tourney wins. I mean this debt seems small, compared to what supposedly hes given to charities. I am guessing his reasoning for giving to charities has some beneficial gain for him that we dont know about.

Yeah, a good feeling within...sad you can't understand that. Hey, you owe somebody money somewhere i would imagine. I'm considering buying them out. Send me what you owe so I can make up my mind...before changing it after collecting from you. I'll be good with that & so will whoever you owe as you still will ONCE I then possibly change my mind.

Can you understand that...or is that just to complex?

The money he gave to charities occured years ago. He's admitted he long ago had to stop giving all the winnings because the cash games have dried up. Barry also admited to Michael Craig years ago that he didn't keep money around for long. He spends it.

The reality is that he propably can't just write a check and pay this off without some difficulty. There's a good chance he filed this in his head under, "FU guys, you didn't offer me **** when you paying out to a bunch of no-names. I'll pay you if I bink the ME. Otherwise, you'll have to wait until I clear people that have any value to me."

Too many people in this thread are not making rational arguments. I undersatnd this is due the fact that these people have lots of money tied up in FT. (me personally have just shy of $10k which is the world to and left me with out a roll and grinding out a 9-5..and will sell my ftp @ a low rate to get me out this office.) But the $400,000 loan is not affecting any deal to be made. BG clearly wants to pay the money back, and if he doesnt have the funds to hand then more credit to him for turning down a payment plan. There is no black and white with this, only a few people on this forum can understand the way in which high stakes lending takes place. No paperwork, no contract. No "PAY BY" date. so to exspect a full and prompt payment is unfair. Credit to BG for dealing with it correctly.

so a company will sell you its due income while relieving you of the money they owe.......im sure thatll happen

too complex outline plz