i hope they apply for license's,so we not waiting for that to happen for ages.

i bet that's not a 2 week job

good news finally

Oui, je t'aime Tapie!!

Thank you Diamond and Noah for all your work, you have been the most trustworthy source during all these months of darkness.

pretty please legalize...jobs suck!!!

only a matter of time you USA donks be back

That actually makes perfect sense, they just sever the assets... that would also explain why Tapie is moving forward so confidently.

Thanks

So does this mean that Full Tilt is gonna be back online soon? (for european players)

Step Closer Finally

i'll believe it when i see it.

You've got things a little mixed up. There is no direct sale between FTP and GBT. The intended transaction is this:

1) FTP forfeits its assets to DoJ.
2) DoJ sells those assets to GBT.

In other words, DOJ acts as a middleman. That's important legally and stuff.

The acquisition agreement from a few weeks ago was an agreement between DOJ and GBT effectively in which DOJ said that they would sell various FTP assets to GBT if it got them and GBT agreed to buy them. This is obviously a necessary step because it provides FTP's incentive to accept the forfeiture, DOJ's incentive to settle the civil complaint (with the companies, not the people, and not the criminal complaint), and GBT's incentive to keep dealing with all this crap. It also contains the very important division of the player liability between DOJ and GBT.

Today's agreement is between FTP and GBT. FTP is promising to forfeit its assets to DOJ and making various assurances to GBT about what those assets contain, etc etc. I've not read the agreement, so I don't quite know what GBT is promising. The really important thing here is that FTP's ownership has agreed to give up these assets. That's obviously huge.

The next step is basically for this stuff to, like, actually happen. As I understand it, that means somebody with authority to represent FTP showing up in a court room with various Assistant US Attorneys from SDNY and presenting the judge with documentation showing that FTP has agreed to forfeit its assets under whatever terms and the Assistant US Attorneys agreeing to it. Then, DOJ would presumably turn around and sell the assets to GBT. (Hopefully that two-step process will effectively be one step since it's all been laid out already, but who knows.)

One of the slow points here might be the fact that I think they need a judge and a courtroom, and those are notoriously difficult commodities to get on short notice, especially right before Christmas/New Years. GBT certainly wants it done ASAP, and I think that the other two parties are pretty frustrated with how long it's been taking as well, so hopefully they'll be able to do this quickly.


Then, of course, we've got GBT owning a defunct poker website without licensing and a huge player liability AND DOJ owning a huge player liability as well, and we go from there. I don't know if either party has worked out the logistics of repaying people, but both of them seem to be acting in good faith in that regard.

There is no reason to believe that the data is not as it should be. Afaik, from BF on, no one ever said their balance showing online was not what it should have been. I can imagine that if you had outstanding echecks, that those amounts would be deducted, other than that, it should be fine.
Fwiw, a screenshot really isn't proof of anything.

Don't misunderstand me sir. Taking of the assets from the FTP companies is all that was available from the companies. This action has no effect on any other pending or future actions, on any other company, entity or individual.

noah does GBT get the funds that the doj as been taking off ftp1 over the years.

I asked Jeff Ifrah some days ago:

What happens with my withdrawals in limbo? Will the money be back in my account if Full Tilt relaunches?

His answer:

Of course not.

Technically FTP is just a brand, not really a company, although we refer to it that way. The forfeitures described encompass ALL the FTP related companies, including those you mentioned. GBT is not buying any of the FTP companies, directly or indirectly, only the assets previously owned by those companies, that will, by then, belong to the US govt.

The forfeitures referred to in this deal refer only to assets of the companies, not individuals.

Tecnically GBT is not buying anything from the FTP companies. The companies are forfeiting assets to the DOJ. There is an agreement in place, that GBT can purchase those assets from the US.

wow so nearly 430mill for full tilt poker, before costs of getting the show on the road.

nice GBT

would be so sick if we get paid on Christmas.

Thanks Noah.

I could not care less about Howard/Jesus/Bitar as long as I'm getting my money back.

I edited my post a billion times, so make sure you read the latest version.

Noah what's the percentages of:

1 - Deal going through for a new FTP to restart?

2 - ROW players getting all their funds back?

3 - US players getting their deposits backs?

4 - US players getting their deposits AND winnings back?

Does Tiltware software still own the FTP software or is it now owned by the DOJ?

+1 until I see some actual quotes from real people (DOJ, lawyers, anybody) or papers its S:P lol false hope.

Delusion ITT. Your looking at a year IF this deal EVER happens.

read thru the thead, still think my initial answer covers it....