I don't find it palatable to publish an article just to disspell some gossip that was printed on another site, but since it seems to have taken on a life of it's own, I will say something.
Yes there was a court date on May 8 in NYC. This was scheduled for weeks, in fact while the GBT "deal" was still expected to be moving forward, and was discussed in this forum.
While this hearing could have included final details on the GBT deal, obviously that did not happen, nor will it.
The purpose of the hearing was specifically to address the required procedural scheduling orders, and that was done.

The USAO did not present the court with final details of any deal to settle the cases at the hearing. No one stood up and stopped anything from happening, including the atty for the Commonwealth of Kentucky, although he was present. It just did not happen.

As background, Kentucky did indeed file a verified claim last year in this case for the domain names. For the last 3+ years, KY has had a case against more than 100 gaming sites and after several attempts to seize those domains, in March of this year, a district court in KY ordered the forfeiture of 132 of those domains. Included in the original list were FTP, PS and UB/AP, however, because they were already targeted by SDNY in the Black Friday case, they were temporarily kept off the final list, pending the resolution in this case. Hence the filing of the verified claims by the atty for the Commonwealth.

This claim, like all others filed in this case, including class actions and individual claims, must be resolved before any deal can move forward. This is one of the legal steps that have been discussed for months, and afaik, they are being addressed.

Fwiw, that KY forfeiture action is before the KY Court of Appeals, with briefs due this month (delayed from April). I published an article on that case in March and will update it when more info becomes available.

Cliffs: Yes, there was a hearing on May 8. No, there were no Perry Mason moments in the courtroom, by KY or anyone else.

keep up the good work diamond flush

in before 911 posts
in before conspiracy

Lol he wasnt quite intentionally seeking out to screw over players but the terms he was seeking for the deal would have undoubtedly upset all of the grinders.

So basically nothing happened in the last two weeks regarding PS buying FTP?

Great work DiamondFlush!!!!

So has stars bought FTP for sure? I mean, have they actually stated this? Also, when will FTP re-open then? Even an estimate?

No. No. Nobody knows. Soon™


Re-read Diamond Flush's post.

Not 95% of funds, 95% of players. Basicly 95% of players had 100 bucks or less in their account, and they would be fully repaid instantly. Higher balances=gotta rake to geddit.

The deal was horrible for players, better than nothing, but horrible. I have no idea what the DOJ would have done if PS wasn't around though, and I think we will never know.

so, what are these orders? what is on this schedule? Is is about the legal claims in this case only? How long will it approximately take?

The dates range from July this year into Spring next year. However, I totally believe there is no reason to believe those types of dates will be necessary, and that, at least as far as the companies are concerned in this case, there will be some solutions "soon". IOW, these dates going into the record are a procedural requirement, and should not be viewed as expecting any settlement or trial to take another year, for the companies. This is my own opinion and you are free of course to ask the USAO for more imformation.

https://docs.google.com/open?id=0BxN...DZZQUNhLV9lNVk

Hope you are right

cliffs after page 1?

Wouldn't surprise me at all if PokerStars just ****ed the GBT deal and now are leaving ftp to die. And yes the GBT deal as far as we know seemed to be horrible for a lot of players but better than nothing at least.

The GBT deal was for ROW players only and it was claimed to clear "95%" of those balances as to numbers of players not their money totals! The 5% was also a player number, but the money was huge for this smaller group , a poor deal for certain. But if nothing else comes along, then your point is well made.

would be the worst move pokerstars could do.

how?

Well if the deal doesn't happen, PS can just say they had no talks about any such matter.

PS will most likely try to obtain some advantage from assuming the ROW player debt of FTP, we don't know exactly what that is and if the DOJ will accept their demands.

And if they do reach an agreement, they will most likely close FTP, I don't think they have any intention to run it.

trippa, if ps were to **** over all the people with money on ftp, how many of them do you think play another hand on ps?

REPUTATION

yeah.. they're gonna come out and say "HA HA LOSER! WE F***ED UP YOUR FTP DEAL NO MONEYS FOR U!!11"

they're gonna say they never hand anything to do with FTP and it was all rumors. They had another issue with DOJ and we're on a gag to say nothing.

But yeah I think it's unlikely that they would deliberately crap on the deal just to bump out the competition.

Considering a tapie-run FTP2 wouldn't be competition in any sense of the word, yea....

Anyone read anywhere, or able to shed any light on (Hi DF!) whether we're looking at days, weeks, months before we hear any more? Not necessarily even a conclusion, but next steps/updates?

I've been quite lucky to have not needed the $2.5k I've got stuck on FT... but it would sure come in handy in around 5 - 6 weeks..

rumor mill atm is we'll know within a couple weeks if we're getting paid and stars will repay us within 90 days

So from http://www.gaming-awards.com/NEWS/archives/9101: Any news on when the next scheduled hearing is?

I guess from this: https://docs.google.com/file/d/0BxNS...NhLV9lNVk/edit it was yesterday?

His name is Barry boss? Great name. Now back to reality, what would stars gain from buying FTP that they don't gain by just leaving FTP dead? Only thing I can think is to stop competition from buying FTP but isn't competition good for business?