Group Bernard Tapie unable to collect money from Ivey, Benyamine, etc. - Page 6 - Poker News

bbfg · 02-02-2012, 03:11 PM

Quote:

Originally Posted by ICUScoobyDoo

If 20 million out of 400 million is really what is holding everything up then all players should agree to just get paid back 95% of their account balance. Problem solved. I'm pretty sure almost everyone who has their money tied up would agree to this.

Most likely this is not just about the 10-20 million. If I had to guess I'd think that the real problem is with the people that still need to pay some money + own shares of the old FTP, since they are in kind of a powerful position, which gives them bargaining power. Not that unlikely to think they only want to comply with GBT if certain requirements are met, like keeping a small amount of shares of the new FTP. This is GBT their move to show that they are prepared to walk away if they don't take the giant gift GBT is giving them without trying to take even more from them.

harrington1 · 02-02-2012, 03:13 PM

time to start writing this money off boys , personally i cant see us getting out money back but if im wrong its gona be a very very long time yet .

kk405 · 02-02-2012, 03:14 PM

Given the background of the players involved, I always thought this deal would not go through...As time passes, and crap like today's news come out, I am losing faith in any possibility of a deal and players receiving any money whatsoever... what I wish of more than anything is for the DOJ to go after all the thieves and crooks at FTP and criminally charge them all and send them all to jail...not just threats, fines, and settlements, but send ALL of them to jail like that Di&* Sh*% dude..

Kirbynator · 02-02-2012, 03:14 PM

Quote:

Originally Posted by harrington1

time to start writing this money off boys , personally i cant see us getting out money back but if im wrong its gona be a very very long time yet .

or you could be wrong on both accounts

MicroRoller · 02-02-2012, 03:16 PM

Quote:

Originally Posted by Gazillion

If this all turns out to be true, then it pretty much confirms that Ivey's show of "solidarity" last year by boycotting the WSOP was a complete sham. If *that* is true, then I've pretty much lost any last ounce of respect that I still had for him.

Before BF happened, wasn't the general thinking that Ivey didn't like playing in big tournaments (especially WSOP) because it was grueling, he didn't want to deal with the media and he could make more money with less work playing the side games?

I thought that was the whole point of the large WSOP bet with Lederer, to give him extra incentive to play the WSOP?

That said... I do believe he was genuinely outraged at what happened to players and not just because of his reputation. I also don't think he knew what was going on as his shares were described as "passive" in reports concerning his divorce, he sued for $150 mil when FTP had less than $10 mil in the bank and if you look at the filing he didn't really know who he was suing compared to other lawsuits against FTP.

I think the fact that Ivey was generating a lot of income from FTP and was unaware of what a high percent there was for that income to stop based on what FTP was doing while his employer who loaned him the money was or at least should have been aware of the risks and how it would impact Ivey's ability to pay does complicate things.

I don't think the loans should be completely written off but I would understand settlements of lesser amount. Releasing this information to the press makes me think negotiations in this regard aren't going well and Tapie want's to nudge the pros a little harder.

Bene Gesserit · 02-02-2012, 03:16 PM

Quote:

Originally Posted by coduresa

Well,Ivey just played in Australia and everybody knew he owes money to FTP/us.
Did anybody step up to him and say anything?Somebody saw Howard,somebody else C.Ferguson.Nobody said a word to them.
Of course they feel save,because 20 yr olds hiding behind their computer are not really so threatening for these guys and their bodyguards.

And their money (well FTP players money) and their big time lawyers, casino goons, and the Laws of USA ,and Ireland, and Aruba, and Costa Rica and EFFen Botswana maybe.

banonlinepoker · 02-02-2012, 03:17 PM

Quote:

Originally Posted by Fordham

All of these "UPDATES" if thats what you want to call them are sickening. Either we get paid or we dont. If we dont then everyone who is guilty should get 20+ years in prison, if we do get paid back then they should still get about 19.5+ years. No matter what happens from now on, 3 unforgivable FACTS still remain.

1.) The funds were not segregated.
2.) Owners were withdrawing large dividends that were not from profits but rather from players own money
3.) There has been ZERO effort to be open and honest about FTP's circumstances pre/post black friday, but merely small amount of info to maximize FTP's benefits or minimize how badly it is perceived as an entity. and to be honest all these stories of a deal almost being done is just adding to it.

My final point is to emphasize how useless these type of "NEWS ARTICLES" are.Think about this. Lets compare Matt Affleck and Jonathen Duhamel. Matt Affleck played great in the WSOP ME for 2 years. He chipped up nicely, he bluffed when he had to and finally he gets all his money in being a huge favorite with 40 million chips on the line and the tournament chip lead by far. This is a great story. Now all this build up means nothing because he lost the pot was eliminated and Duhamel won the ME. Now look at FTP. FTP can say the USA government itself has purchased FTP and agrees to pay out every person with interest and get well soon cards, but if it does not materiallize who has it helped NOONE. It has been almost a year since black friday, either pay up or shut up.

It's amazing how many still hold these degenerates up on a pedestal when it's clear they were robbing us blind and now want a free get out of jail free card. They all belong in jail.

2Pretty2Lose · 02-02-2012, 03:17 PM

as others have said this wont be why a deal isnt done, even the lawyer mentions that this wont screw up the deal, that there are other issues that need to be taken care of as well, but GBT is basically putting the clamp on these guys to pay and is calling them out to the community, threatening that if they dont pay up, he could walk away, which makes these players look even worse. its a pretty smart move by GBT here business wise, he has nothing to lose by doing this...

Zekday0 · 02-02-2012, 03:22 PM

Things are looking very bad on all fronts here. Ivey is my hero!

Dice Dice Baby - Phil Ivey Song

SleeveOfWizard · 02-02-2012, 03:35 PM

Quote:

Originally Posted by Wilbury Twist

For a moment, I thought Behn Dayanim was simply an anagram for David Benyamine. I need to read more slowly sometimes.

I was going to post exactly this!

johnnybgood7 · 02-02-2012, 03:37 PM

Slightly OT but here goes:

If the deal is agreed on by all parties involved, what do you think the likely hood of the DOJ paying US players back in full? Is it more likely we are only gonna be paid a percentage of our bankrolls while the ROW players get it all back?

Alex_Striker · 02-02-2012, 03:41 PM

He was interviewed by PokerNews as well.

Quote:

It’s been hinted that some players would only be interested in repaying money if it went into a fund that would pay players back. Is that something GBT would consider as an option?

Some players have said things like that, some professionals have said things like that. I use the term professionals just because I don’t want people to be confused. We’re not talking about the mass of players who have balances on Full Tilt, we’re talking about professionals who owe the company money.

The reality is this. If we are unable to resolve some of these substantial obstacles that stand in the way of the completion of the deal, we won’t be able to complete the deal. If we don’t complete the deal, then the rest of the world players won’t be compensated nor made whole because we won’t be there to do it, and the government would have less money than it otherwise would to pay the U.S. players to the extent that it plans to do so. That’s the reality. We really need to resolve some of these issues in order to be able to purchase the company. This is a significant issue.

John K · 02-02-2012, 03:42 PM

I'm not surprised by the names that owe money w/ the exception of Barry G. Idk about Ivey and Barry, but the other guys are all huge degens and I'd say the possibility of them repaying back their loans is very small (Ivey is a huge degen as well but he's probably the only guy among this group w/ money)

Syzzzurp · 02-02-2012, 03:42 PM

how much revenue do you think a site like FTP would make per week in rakeback? If its not gonna take them to long to make the 20million back they should just reopen with the understanding no-one can withdraw for 1 month or something.

or even better lock the degens in a basement till they pay up...

FTPlayerNHell · 02-02-2012, 03:44 PM

Quote:

Originally Posted by johnnybgood7

Slightly OT but here goes:

If the deal is agreed on by all parties involved, what do you think the likely hood of the DOJ paying US players back in full? Is it more likely we are only gonna be paid a percentage of our bankrolls while the ROW players get it all back?

I thought this was the most interesting part. From this:
"If we don’t complete the deal, then the rest of the world players won’t be compensated nor made whole because we won’t be there to do it, and the government would have less money than it otherwise would to pay the U.S. players to the extent that it plans to do so. That’s the reality."

How would it be possible to pay American anything if the deal does not go through? I like the idea, but don't seee how it's possible.