FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) - Page 228 - Poker News

DoTheMath · 09-10-2011, 08:31 PM

Quote:

Originally Posted by n0nplussed

I might have missed something here, but don't confuse rake generated with revenue. The only revenue Full Tilt ever made (not counting "investments") was through deposits. Rake is just an electronic transfer of a money proxy -- by the end, they were ostensibly laying claim to money that wasn't there.

That's a very interesting accounting class you went to.

DoTheMath · 09-10-2011, 08:38 PM

Quote:

Originally Posted by yesright

I have legal question.

Where do class action lawsuits stand as reagrds getting paid in the event of FTP going bankrupt?

Would they get paid before the players who would probably be considered unsecured creditors?

If the class action is successful and they get a court ordered payment, then they will be ahed of unsecured creditors. As it stands, this is bad news for ROTW players, because they are not included in TT's class definition.

SuperJez · 09-10-2011, 08:39 PM

lol @ the epic poker league actually having ethics. They have Annie Duke as one of their head people ffs. Anything they do is just for show.

Sorry for the derail, I think what you wrote to them Harry is 100% spot on but anytime Annie Duke claims to hold an ethical high ground, I immediately switch off sorry.

Blizzuff · 09-10-2011, 08:40 PM

Quote:

Originally Posted by MattC

What about the fact that people could be getting a return on their money that is just sitting around right now or that things like FTP points probably won't be paid out.

But by this logic, Tom Dwan should start paying people out right now based on his earlier guarantee.

The point is that any entity in a situation like the Epic Poker League, or Tom Dwan, is going to take the "wait and see and hope it all works out" approach to the bitter end, rightly or wrongly, and hammering on them right now is going to have dubious effect.

bigNDpants · 09-10-2011, 08:42 PM

Quote:

Originally Posted by Jankone54

they ****ing ruined my life, i m so depressed, can't even play profitable poker since they closed our rolls....
wake me up from nightmare at 19th sept ...

You are not the only one. There are a lot of people in the same boat including me.

DoTheMath · 09-10-2011, 08:50 PM

Quote:

Originally Posted by SGT RJ

All else aside, this is pretty funny. Now the US is being blamed for actually suspending FTPs license.

Still, I would think Canadians at least will be pleased by this news, since there seems to be a lot of concern that the TT lawsuit puts US players in a better position should FTP collapse. So do we now have to abbreviate the legal discussions with US, CNS, and ROW?

QMI Agency, who supplied the story, are such a joke. They are a (privately?) owned, Quebec-based news agency that came up through the tabloids and now control most of the right-wing media in Canada. They want to start a TV news channel that would be sort of a Fox News North. Don't expect them to get any complicated story correct the first time.

CNS?

I have my doubts about the previous class action lawsuit filed in the US by two Canadians. I wonder if they will even have standing. I have little hopes for this new suit either. Standing probably will not be a problem, but jurisdiction? Enforceability of judgement?

However, it is good to see that at least some Canadians are trying to protect their interests. Now what about the ROTROTW?

**SGT RJ** · 09-10-2011, 08:59 PM

Quote:

Originally Posted by DoTheMath

QMI Agency, who supplied the story, are such a joke. They are a (privately?) owned, Quebec-based news agency that came up through the tabloids and now control most of the right-wing media in Canada. They want to start a TV news channel that would be sort of a Fox News North. Don't expect them to get any complicated story correct the first time.

CNS?

I have my doubts about the previous class action lawsuit filed in the US by two Canadians. I wonder if they will even have standing. I have little hopes for this new suit either. Standing probably will not be a problem, but jurisdiction? Enforceability of judgement?

However, it is good to see that at least some Canadians are trying to protect their interests. Now what about the ROTROTW?

Canadians, LDO. I was grasping at straws there, IDK how you would abbreviate Canadians. It took me a day just to figure out what ROTW (or ROW) meant.

DoTheMath · 09-10-2011, 09:11 PM

Quote:

Originally Posted by SGT RJ

Canadians, LDO. I was grasping at straws there, IDK how you would abbreviate Canadians. It took me a day just to figure out what ROTW (or ROW) meant.

Cdns. is standard.

DoTheMath · 09-10-2011, 09:16 PM

Quote:

Originally Posted by DavidNB

Another nation class action lawsuit has been filed against Fulltilt in Quebec Canada.

MONTREAL - A Quebec consumers' group filed a national class-action lawsuit Friday against the suspended online gambling site Full Tilt Poker.

The Groupe des droits des consommateurs filed the motion in Quebec Superior Court on behalf of people who can't access money in their Full Tilt accounts.

...

Quick web searches on Google and Yahoo find nothing about this name except the FT lawsuit.

DoTheMath · 09-10-2011, 09:18 PM

Quote:

Originally Posted by Leader

ROW class action has already been filed.

Which one are you referring to?

Howard Beale · 09-10-2011, 09:20 PM

Quote:

Originally Posted by yesright

I like how you keep totally ignoring the fact that a number of players are suffering from financial hardship yet keep turning it around to how people like Howard and Jesus are suffering........

The big difference is the players did nothing to bring about their situation......

I'm not ignoring the players, that's been gone over many times. I'm just telling you what they are likely going through because I've experienced similar.

But I won't give the players who've suffered life changing harm a pass either just to avoid hurting thei feelings. Anybody who had serious money online had to know the chances they were taking. Party pulled out of the U.S. market for a reason post UIGEA. Dik... paid, iirc, $500M FOR A REASON. Doyles Room pulled out for a time, I believe. Ladbrokes never allowed U.S. players at all. There were multiple warning signs: payment processors getting shut down/fined, all sorts of sketchy dodges to facilitate deposits and online money beind traded at a discount for cash, if I am to believe my friends.

But some people kept at it for very large sums as if nothing could ever go wrong with sites unreachable by them. All based on what? Trust in the T&C that they read on a website? The assurances of some gaming commission based somewhere nobody ever heard of? Who would bank with such people? Yet poker players happily left large sums with them because.......,well you tell me why.

Kids left school to be online pros. Others left good jobs. As if it would always be there, no prob, no risk, forever.

No I don't feel sorry for all of you.

DavidNB · 09-10-2011, 09:28 PM

Quote:

Originally Posted by DoTheMath

QMI Agency, who supplied the story, are such a joke. They are a (privately?) owned, Quebec-based news agency that came up through the tabloids and now control most of the right-wing media in Canada. They want to start a TV news channel that would be sort of a Fox News North. Don't expect them to get any complicated story correct the first time.

CNS?

I have my doubts about the previous class action lawsuit filed in the US by two Canadians. I wonder if they will even have standing. I have little hopes for this new suit either. Standing probably will not be a problem, but jurisdiction? Enforceability of judgement?

However, it is good to see that at least some Canadians are trying to protect their interests. Now what about the ROTROTW?

A class action law suit was filed in Quebec canada

http://www.torontosun.com/2011/09/09...ull-tilt-poker

joeyrulesall · 09-10-2011, 09:29 PM

Quote:

Originally Posted by Howard Beale

I'm not ignoring the players, that's been gone over many times. I'm just telling you what they are likely going through because I've experienced similar.

But I won't give the players who've suffered life changing harm a pass either just to avoid hurting thei feelings. Anybody who had serious money online had to know the chances they were taking. Party pulled out of the U.S. market for a reason post UIGEA. Dik... paid, iirc, $500M FOR A REASON. Doyles Room pulled out for a time, I believe. Ladbrokes never allowed U.S. players at all. There were multiple warning signs: payment processors getting shut down/fined, all sorts of sketchy dodges to facilitate deposits and online money beind traded at a discount for cash, if I am to believe my friends.

But some people kept at it for very large sums as if nothing could ever go wrong with sites unreachable by them. All based on what? Trust in the T&C that they read on a website? The assurances of some gaming commission based somewhere nobody ever heard of? Who would bank with such people? Yet poker players happily left large sums with them because.......,well you tell me why.

Kids left school to be online pros. Others left good jobs. As if it would always be there, no prob, no risk, forever.

No I don't feel sorry for all of you.

Maybe we left money on the site because we would see all the famous pros that owned the site on NBC wearing patches and smiling making us feel safe. It's sad that you don't feel bad for us but running you're mouth to people that just lost alot of money might not be the smartest thing.

DoTheMath · 09-10-2011, 09:34 PM

Quote:

Originally Posted by DavidNB

A class action law suit was filed in Quebec canada

http://www.torontosun.com/2011/09/09...ull-tilt-poker

Umm, yeah. It was Sgt RJ's response to your announcement of it that I was responding to.

However, it is impossible to tell from the QMI story whether it is a ROTW lawsuit or a Canada-only lawsuit or a Quebec-only lawsuit. In any event, I expect nothing to come of this suit.

Mycology · 09-10-2011, 09:37 PM

I -only- trusted the site with that much money because of all the American citizens and well known pros who put their names, faces and reputations behind the site. I thought - they'd never allow an operation to exist that would let its own countrymen (much less the entire world) get shafted the way we have been. And who would have thought at the same time online poker would be (for the most part) shut down simultaneously so that we couldn't rebuild our rolls elsewhere. And at the same time, the DOJ / US gov't runs this bust so horribly that the people who really could be able to bail us out by buying the American debt (Lederer, Ivey, Ferg, other team full tilt and shareholders, AND the AGCC) thus making the overall deal much more attractive go unindicted, keeping them from REALLY trying to help make a deal get done... instead they will likely be able to continue business as usual (the AGCC and American team Full Tilt poker pros other than HL/CF/PI), that theres really no motivation for people to get this done other than ray bitar and the other ftp fools who got indicted.

And even they will likely just become fugitives and live life somewhere tropical drinking coconut juice.