Send an email to JI or FTP

I am sure they will supply you with all the news and information you want.

HDemet, you must remember how we got to this situation.

It appears that FTP as a company let the uncollected shortfall get out of hand and it appears the AGCC also didn't pick up on this or what was taken out of FTP group of Alderney companies was > player balances.

Nothing was nipped in the bud and was left to the last minute so Bayes suggest we should expect more of the same

Bankruptcy doesn't change much from the DOJ's perspective. The DOJ's lawsuit is against the assets themselves, so the DOJ still has claim on those assets no matter the financial situation of the owners of the assets.

I don't , pal, I just wish it would come thanks!

No, Harry , no news there either! All I mean, as far as you are concerned, is that you have made your point very well, and it mostly makes perfect sense to me. I just would like some new news/topic so we can move on. Don't take stuff so personal, your work on this matter and opinions are appreciated

Yes I keep forgetting...they have ****ed up every step of the way so why should now be any different...silly me....I should know better that the morons at FTP are still morons today and that hasnt changed over the past 5+ months.

ANyway they are going to get theirs eventually and that will be a day to celebrate.

@ hdemet, many french medias have reported this story from sources outside the poker world.those medias have nothing to do with poker and dont give a flying **** about it.

what if that french guy was their really last resort because of his background.
what if he was last on their list of potentiel investor and after the doj bomb they decided they had no other choices but to deal with him before its too late?

Munkey, you have a great track record in looking up and interpreting legislation and regulations. Do you really think that under the Aldrney eGambling Regulations and their backing legislation a new buyer could operate without first getting a new licence?

Even so wouldnt the DoJ then sell off those assets to get some money for itself and the new buyer could use those to launch a new company online without any liabilities?

That would take years.

Apologies I omitted the smiley emoticon....I was joking....everything could easily be cleared up and made a little less frustrating if only those scumbags would have regular HONEST AND ACCURATE press releases but alas they are not forthcoming. They dont have to divulge everything just the odd bit of news here and there but instead these meaningless statements that arent worth the waste of bandwidth.

They are all scum and deserve what they will get and only hope its sooner rather than later.

Maybe he will do a deal...I have only said that I do not believe it is a deal along the lines of the previous ones where all players wil be able to cash out if they wish on any reopening.

I genuinely belive that any deal involving the French will just be centred around RoW players with something special arrnaged for the US

.

I don't think they need a new "site" license, but they will need new certificates for owners/key directors, for new corporate structures,...
I read a lot of alderney e-gaming legislation, but i don't claim to be a specialist.

most helpful document i found on the AGCC site concerning that question is:
http://www.gamblingcontrol.org/userf...amendments.pdf

From the sounds of it they weren't even seriously looking for a new owner until at least mid June. So it's been a little over 3 months of them trying to find a suitable buyer. I'm not even a remote expert in company buyouts but I imagine 3 months is a very small time frame for a company such as Full Tilt to find a buyer.

In those 3 months the value of FTP has fell dramatically. I don't think it's unreasonable to think that they have just always overvalued their company and now that their backs are against the wall they'll be much more willing to take any deal that comes their way. I think it's probably a good idea to be pessimistic about any deal but to somehow speak like we have a better understanding of the companies finances and future profitability than those interested investors is pretty naive.

Quote:
The terms say that any purchase agreement would provide funds to allow the repayment of account balances to all Full Tilt Poker players worldwide.


Then I do not believe a deal will be done unless the provision for those funds are spread out in some way.

BTW wasnt this also in the previous negotiations too before they eventually failed?

Maybe all investors start off with the intention of doing this but after going through the books decide it isnt worth it and then simply walk away.

Thats what all the others have done to date.

Can anyone please shed any light on why this investor is more likely to sign than previous ones? I would be interested in peoples thoughts for this being the case.

Question for noah. Say a sale does take place, do you have any idea on the time frame it would take to get ftp up and running again?

Unfortunately although their value may have fallen dramatically it will cost an invesror more to save the company.

The price was always whtever the balances of players around the world were but some of those balances could be paid with money the company had. However that moey is probably all gone now so the price for an investor has actually gone up.

Congrats on adding more people on an internet petition. I am certain that will be very helpful to people that actually have money stuck on FTP - like me.

Added to the ignore list.

Not really.. no.

FWIW, I think it's probably been more like four months, but keep in mind that they had an exclusivity agreement with one investor for almost two months.

Question for Noah:

Last week, you and durrr were pretty active on the forum and with the interviews and last few days there was no activity from you guys + durrr didn't yet answer your 3 questions. Does that mean anything?

Has this been confirmed? Aren't there a lot of owners? I doubt they were all willing to give up their percentages back in July for free.

From an investor's standpoint their offer would have to be something like:

Total money owed to players + DOJ fine + operating/legal costs + X amount the FTP owners want for the software/player base/profit (?)

The first ones should be just basic math.. IMO what might be holding up the process is the "X". Is it possible that even with their backs against the walls the FTP owners are demanding too much money? Their actual business numbers were likely very good if you disregard the theft/gross incompetence in running the company. So it's definitely possible they're trying to squeeze as much as possible from the potential investors..which would be sad.

Another potential reason is that FTP's books are in such a poor state that it's taking the investors a long time to do their due diligence.

(obviously this is just pure speculation...)

^^^ X = 0.