Response regarding money I owe to Full Tilt - Page 4 - Poker News

It sure seems odd for Tapie/attorney to contact Barry prior to a close of Sale for FT. While I feel Barry is not in a big hurry to pay $400K to anyone, He better make sure the DoJ is in concert with any pay back.

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02-02-2012 , 08:01 PM

#77

bbfg

Carpal \'Tunnel

Join Date: Aug 2009 Posts: 12,264

Quote:

Originally Posted by nsoshnikov

Can anyone here respond to this?

Again, very simple: did he lend money from Ferguson or from FTP? If he lent money from Ferguson, pay back Ferguson. If he lent money from FTP, pay back FTP. It really isn't that hard a concept to grasp.

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02-02-2012 , 08:01 PM

#78

sam monella

veteran

Join Date: Nov 2010 Posts: 2,310

Barry pay back the money and how bout rounding up your buddies and get them to pay back too. K thanks

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02-02-2012 , 08:02 PM

#79

DavidNB

Pooh-Bah

Join Date: Aug 2005 Posts: 4,332

Quote:

Originally Posted by nsoshnikov

Can anyone here respond to this?

Yes I will. Every one that owes money to FTP should pay it back. Phatom deposits, and players that borrowed money from FTP. This money should go to FTP and be used to pay back everyone that is owed money. Both US players, ROW, and yes even CF.

The DOJ should not get the money, The new owners should not get the money.

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02-02-2012 , 08:02 PM

#80

xxx

veteran

Join Date: Oct 2003 Posts: 2,253

1. GBT doesn't own FTP yet, so it seems a payment would be premature
2. Posters complaining about BG wanting to have US players repaid are missing the big picture - Right now it is set up that the debts would be repaid to GBT who would repay ONLY the ROW players. Barry has a good point that it isn't fair if all debts go to ROW players and US players are not made whole. Things might be different if the DOJ would step up and back the US player balances, but that hasn't happened yet.

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02-02-2012 , 08:04 PM

#81

Zaarg

adept

Join Date: Oct 2009 Posts: 735

Quote:

Originally Posted by The STUD

GBT IS NOT PAYING BACK PLAYER FUNDS...DOJ IS SETTING THIS UP FROM FTP'S ASSETTS. GBT IS ASKING FOR THE MONEY-IF HE PAYS THEM THERE IS NO INDICATION THIS MONEY WILL BE USED TO PAY BACK PLAYERS.

GBT and players know that so he already expected to not get paid? so it was a cheap excuse and he dont evene wants to continue with the fulltilt deal?

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02-02-2012 , 08:04 PM

#82

EP12

enthusiast

Join Date: Jan 2009 Posts: 70

Barry is honorable man respect

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02-02-2012 , 08:04 PM

#83

apples2apples

journeyman

Join Date: Dec 2008 Posts: 356

Barry's name is reported and boom couple hours later he responds. Very curious to see whether anyone else named responds. Much respect Barry.

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02-02-2012 , 08:05 PM

#84

The STUD

grinder

Join Date: Oct 2010 Posts: 599

Quote:

Originally Posted by barryg1

I was concerned about taking money due to US players and giving it to the Tapie Group because it is understood that the Tapie Group won't be the one paying the US players. On the other hand, I realize that the total debt counting other players is substantial, especially because I would include in that tally any money taken from FTP once it had become insolvent.

This is why it matters who gets the $$. The $$ owed by the players should be divided based on % of what is owed to the US players and the others.

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02-02-2012 , 08:05 PM

#85

Milo013

adept

Join Date: Jan 2010 Posts: 910

I may be the only person who feels this way but here goes:

Barry et al owing FTP money, is NOT the same as
Barry et al owing the players screwed by FTP.

At least I do not think it is legally enforceable in that fashion. What I am getting at is, just because these folks owe FTP, does not mean that US players (or anyone else for that matter) would have legal recourse against them should FTP just disappear from the on-line landscape.

Of course, IANAL, and ymmv.

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02-02-2012 , 08:05 PM

#86

yourewrong

banned

Join Date: Nov 2011 Posts: 204

thank god that 10% of the people who have posted in this thread have common sense. the rest of you not only have reading comprehension issues, but also have a ridiculous way of looking at things. overall, it's none of anyone's business how barry conducts his life and i don't think he should entertain anyone's ideas or opinions in this thread. he will do what's best for him, as he should. i don't think he made this thread was to ask for legal advice, it was meant to give the poker community a heads up as to what's going on rather than being bothered with his phone ringing off the hook. he addressed the issue, now move on with your lives.

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02-02-2012 , 08:06 PM

#87

teddyFBI

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Join Date: Jun 2004 Posts: 6,596

A) Thanks for manning up and making a statement, Barry -- already puts you ahead of most other old-guard pros.

B) But WTF: you owe FTP money, pay it back. At this point, what you characterize as a moral stand is an obstacle to everyone getting paid back. What if every player that benefited from FTP 'phantom' deposits were contacted and asked to pay what they owe and responded "nah, I'm gonna wait to see how things shake out with the DOJ." They owe that money, and so do you. (plenty of ways you could structure it, like a promisory note to be used ONLY to reimburse players.)

Sleep on it. Seriously. I'd be amazed if you came to any other conclusion.

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02-02-2012 , 08:08 PM

#88

limpinbarney

centurion

Join Date: Aug 2010 Posts: 122

I dont get it. Why should Barry pay money to the GBT? GBT isnt the owner of FT. FT will be sold to the DOJ and then to GBT for 80Mio$.
So when Barry pays FT nothing will go to GBT. And as far as I know DOJ already agreed to pay US players.
So whats the problem here? Barry, pay your bill!

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02-02-2012 , 08:09 PM

#89

caseycjc

banned

Join Date: Aug 2004 Posts: 4,728

FWIW, I wouldn't pay Tapie one cent until FTP was up and running again.
Seriously who knows how that money might be handled? IMO he's saying, in as nice a way possible, yea I'll pay my debt when I know how the money is to be handled and when you actually open your doors and show good faith.

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02-02-2012 , 08:09 PM

#90

bbfg

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Join Date: Aug 2009 Posts: 12,264

Quote:

Originally Posted by xxx

There is a big difference between "I will pay back the money once you buy FTP" and "I want to give that money to the account the DOJ uses to repay US players", as in the first case, FTP eventually gets the money, and in the second case FTP never actually gets the money back and the new owner basicly has to pay back the loan.
Barry needs to pay FTP, not the DOJ. While I understand that the DOJ paying back americans brings in a whole other perspective, it shouldn't change who you pay the money to. Why are US players so scared that they don't get paid by the DOJ? Isn't GBT paying a huge fine to the DOJ that will cover these refunds?

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02-02-2012 , 08:09 PM

#91

MikkeD

old hand

Join Date: Sep 2008 Posts: 1,498

Quote:

Originally Posted by teddyFBI

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02-02-2012 , 08:10 PM

#92

tamiller866

Pooh-Bah

Join Date: Oct 2008 Posts: 3,651

Barry is doing the smart thing, the liquidation trustee will likely offer him an equivalent repayment plan were Tapie to back out of the deal, and if Tapie goes through with the deal, he's off the hook entirely.

Tapie has until the end of the month to pull the trigger, if none of these Pro's pay up and Tapie walks away, it could be years before a trustee hits him up for his debt, FTP gave him a 400K freeroll, he'd be stupid (or a decent, moral person) not to take it.

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02-02-2012 , 08:10 PM

#93

Green Glove

grinder

Join Date: Jul 2011 Posts: 456

Quote:

Originally Posted by Doc T River

I know he said $400,00 but then he brought up the fact he is still owed $150,000 implying that he had paid back $250,000.

I'm drunk but I don't think that is what he said at all.

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02-02-2012 , 08:10 PM

#94

RMB

old hand

Join Date: Jul 2010 Posts: 1,288

Quote:

Originally Posted by bbfg

Neither is the difference between "lend" and "borrow"...

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02-02-2012 , 08:10 PM

#95

BonafiedGreat

banned

Join Date: Feb 2012 Posts: 513

Acceptable...... Thanks for clearing this up Barry

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02-02-2012 , 08:11 PM

#96

MidyMat

veteran

Join Date: Aug 2011 Posts: 3,453

Thanks for posting Barry

I can't wait till the "Beware:BarryG scammed me" Thread is created by FTP

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02-02-2012 , 08:13 PM

#97

OMGphilgordon

newbie

Join Date: Oct 2008 Posts: 40

Quote:

Originally Posted by Will_the_thrill

If Tapie says that the money will be used to pay back players, don't you think it would be time that all of us know exactly who owes what?

FYI, Card Player just posted an update on this with info re: how much each player owes exactly

LINK

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02-02-2012 , 08:13 PM

#98

tamiller866

Pooh-Bah

Join Date: Oct 2008 Posts: 3,651

Quote:

Originally Posted by yourewrong

This post isn't surprising, coming from the same guy that doesn't think players who withdrew phantom deposit money should have to pay it back.

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02-02-2012 , 08:15 PM

#99

bbfg

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Join Date: Aug 2009 Posts: 12,264

Quote:

Originally Posted by teddyFBI

This is a very good point. I'd like to see how you all would react if somehow who abused the phantom deposit bowl of **** would refuse to pay back the money if there was some legal ground to ask for it back.