I would like to hear answer from Floptimistico about this matter.

Having previously worked as Company Liquidator within the Australian system, I would have to say after following the various threads on 2 plus 2 that the liquidators will be looking for every available opportunity to claw funds back from Microgaming.

Now, let me start by disclaimer by saying that is a bit of a crude summary and I have not been involved in inslovency for a few years now, (prefer tax work). I am also making assumptions here which may be incorrect, as I am not privy to all the facts.

The main avenue that may be available to the liquidators is through the process of "preferential payments". From the point that Tusk was deemed to be "trading insolvent", virtually every payment made to specific creditors in preference to other creditors can be clawed back.

Now , I am assuming that various licence fees and payments were paid to microgaming as per the terms of the licence, and that continual operation of the skins depended upon Microgaming receiving regular payments. A bit like preferencing your payment of the rent when you are broke and holding off paying the credit card.

If this happened, and Microgaming have received revenue ahead of other creditors and in preference to their legitimate claims, then they can be asked to cough up.

Good luck to all the players affected by this appaling situation.

Bruce

you are full of ***** imo

Quite unique to be owed over half a million dollars, the single biggest individual balance, and yet staunchly defend the company who most everyone else regards as having responsibility, arguing that they should not pay you anything:

I don't believe you are owed any money.

May be a Trojan horse.

Bruce - In Australia do the unsecured creditors have the right to obtain copies of the companies financial statments and management agreements from the Liquidators?

Agreed, story certainly doesn't add up.

read whole post.
very good post.
I hope to one day do as much for the poker community as you and nat arem.

5.4 million isnt that much over 28 sites (200k per?) and with maybe 10k players they avg 20$ each?....I'd lay 4 to 1 not even 50% of players with any balance whatsoever come after 15% of an avg 20$ balance.....

Let's get a sticky so we can cost them many new potential players to their site.

stickys are ignored, just keep bumping this

Your math is terrible since each skin probably didn't come close to having 10k players! Even 1k might be a stretch for a lot of them.

Less than 3000 real money players in total over the 28 skins avg just over 100/skin.

wow this is all crazy. I didnt know all of this. Like I mean I got $4,700 frozen and I just contacted a gaming laywer. I sent him all my transaction history and HH as he requested. He went through it all and confirmed the amount owing. He called or emailed them and did whatever it is they do. Anyways with whatever happened between my lawyer and the site. I got a check in the mail for my amount owing plus the coverage of my laywer fee's.

Not even kidding this is true. I was under the assumption that there were nothing attorneys could do because they are placed away from gov laws.
He explained to me simply this was true but there was a way behind it because no one can just take people's money. He would work on it and get it done.

So I am a little baffled to hear $400k and other amounts still owing when I was given my money back through legal action. You guys dont care enough to investigate your options or something? Kinda makes me think there are a few people lying because if my attorney was able to get it back....

ummm, different scenario. You must not have been a part of Microgaming since that would be impossible

Maybe he needs a micro gaming lawyer.

Probably a non-Tusk MGS skin.

Man do us a favor and pm your contact to
mellowman307, acethiest and bigt2k4 plus let em know your story, This is not just a thing you know they just robbed our money if it was done on the street youd geta few years for it!

Agreed sortof.....I like how you take offense to the part of my math thats debatable and unknown....genious.... thats like you taking my 3x=12 solution and saying -4 is too low for x, only 4 works.....

obv the numbers are off, but as a whole if they are fighting for 15% of 5.4 million over 28 sites that makes 192,000.00 per site.... if you used a bell graph to disperse these sums on a line from 0.00 to 192,000 per site, enough balances when multiplied by 15% would leave sums so low you might not make minimum wage tracking it down......all im sayin is those fools wont try, still making this an easy call for Turek and microgaming........fold.

alright I will. The guys pretty busy I know that for sure. But in the meantime I suggest these knuckleheads get a grip and contact a gaming lawyer like I did. There are lots of them out there. Start your search in high gambling citys. Las Vegas, Atlantic city...etc etc etc. There are many out there willin to help.
Also there is an online website run by the FBI and gaming control boards who deal with online scams with gaming sites and other stuff. I cant remember the website address but it has .gov in it..Its a government site obviously to deal with complaints of overseas/offshore sitesc trying to rip people off.
Google it.

Like seriously guys do some investigating atleast. Jesus its not that hard. But if 400k etc etc etc isnt much to you people than atleast donate it to a charity if your not gonna try and get it back.

they helped deal with the spadester scam.

what about if you're not a US citizen?

Hi Mellowman,

If Tusk was what is known under corporations Law as a "reporting entity", then much of their financial information should be public.

Certainly when I was working in the industry we had in my view a duty to keep creditors informed in detail.

There is certainly no problem you pointing things out to the liquidators and approaching them for information.

The best way to find out up to date rights of creditors is to go to the asic.gov.au website, as that is the website of the Corporate Regulator and has much detail on the rights of various parties involved in an Insolvency.

The point you raised about management agreements is interesting, under Australian corp law it is possible to be deemed a director of a company even if not formally appointed to that role. This is where persons or individuals are making or influencing company decisions at the level expected only of directors.

If Microgaming had any ability to influence the management of the company and its financial decision making then the persons involved could and should be caught up in the liquidators net.

If I was handling this insolvency myself I would leave no stone unturned investigating the role of the licensor in this whole debacle.

Good luck,



Bruce

< 5% this is actually accurate or even true.

1) What skin did you play on?
2) What's up with your attitude?

Seriously what is with guys like nanonuts and pocket twos posting on here pretending that they are owed money???

Anyways pocket two's story is obviously a lie.

1)He's american, TUSK didn't take american players
2)Won;t give any details or even mention what skin he was on.
3)the idea that microgaming just rolled over and paid his lawyer fees is laughable.
4)The idea that he knows how to contact a lawyer is laughable.
5)He's now banned

Shame that I have to go after him since he seems to hate MGS as much as I do, but he would have derailed the thread.

If microgaming are freezing peoples money why the hell did Ladbrokes (microgaming network) afford to put $5 into my account?

note: i have never deposited there.

Solid brag buddy, now read the first post before posting your BS