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Old 11-02-2011, 02:13 PM   #126
JoeyJoJo Shabadu
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Re: Cereus Plans to Liquidate Assets, Repay Players

Is there any way to know what the owe all players total (if it's in here please post it again someone
).. this seems like an impossibility at first blush since their biggest asset is their name... and well...
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Old 11-02-2011, 02:28 PM   #127
reztes757
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by JoeyJoJo Shabadu View Post
Is there any way to know what the owe all players total (if it's in here please post it again someone
).. this seems like an impossibility at first blush since their biggest asset is their name... and well...
took me less than 5 seconds to type "how much does cereus owe" into google and see the answer the third selection down.
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Old 11-02-2011, 03:33 PM   #128
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Re: Cereus Plans to Liquidate Assets, Repay Players

http://www.subjectpoker.com/2011/06/...as-only-5m-6m/
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Old 11-02-2011, 04:30 PM   #129
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Re: Cereus Plans to Liquidate Assets, Repay Players

Email from UB

Thank you for contacting us.

We understand that there is some speculation circulating about the current status of account withdrawals for Non-US players. For you personally, we recognize that this raises some concern about your pending payout at Absolute Poker/UB and why it is taking longer than usual to complete.

At this time, we must advise you that all Non-US player payouts currently in the queue for processing have been placed on hold. This decision has been taken in the interests of expediting the process of distributing funds to all qualified players. We want to assure you that the distribution of player funds has been, and remains, our highest priority.

To this end, you should know that we are currently in active discussions with a number of parties about potential sales opportunities, and we continue to work diligently to devise a solution that will allow us to distribute funds to players. This has been, however, a complicated process, and the determination of appropriate mechanisms for the safe and efficient distribution of funds to players has proven to be an especially difficult task.

Nevertheless, despite a series of formidable obstacles, we believe that we are close to finalizing a well-considered process of distributing funds to players that will be fair for all account holders. We expect, therefore, to issue a statement in the near future, providing the details of this process.

Please understand that ongoing legal negotiations have restricted our ability to communicate publicly more frequently about these matters. We hope that you will understand.

We appreciate your patience during this difficult period, and we will provide you with further information at an appropriate time in the near future.

Regards,
Rick

UB Support
Support@UB.net
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Old 11-02-2011, 05:00 PM   #130
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Re: Cereus Plans to Liquidate Assets, Repay Players

how do you qualify? Quad Aces or better?
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Old 11-02-2011, 08:46 PM   #131
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Originally Posted by Thinky View Post
how do you qualify? Quad Aces or better?
I agree. What does that even mean. This is stupid.
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Old 11-02-2011, 10:01 PM   #132
John Mehaffey
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Re: Cereus Plans to Liquidate Assets, Repay Players

So the cashier is still working, the software is still operating, but yet they are liquidating. Does anyone else find this strange? Even if there are no poker games, someone could play casino games or somehow get a poker game started.

They are essentially operating, but insolvent, while basically having declared that they are bankrupt. I know there are no real money games, it just seems odd to me that they have not completely pulled the software offline, giving players the ability to make transfers. Does it look like it is possible to still make a deposit?
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Old 11-02-2011, 10:42 PM   #133
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Quote:
Originally Posted by Pokeraddict View Post
So the cashier is still working, the software is still operating, but yet they are liquidating. Does anyone else find this strange? Even if there are no poker games, someone could play casino games or somehow get a poker game started.

They are essentially operating, but insolvent, while basically having declared that they are bankrupt. I know there are no real money games, it just seems odd to me that they have not completely pulled the software offline, giving players the ability to make transfers. Does it look like it is possible to still make a deposit?
I believe they sent out an email to ROW players letting them know that all financial transactions are on hold. I'm not sure if this applies to transfers.

Nothing this company does seems strange to me anymore. I'm eagerly waiting for the next news to break.
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Old 11-02-2011, 10:43 PM   #134
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Re: Cereus Plans to Liquidate Assets, Repay Players

i did a player transfer yesterday that went through fine
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Old 11-02-2011, 10:44 PM   #135
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by Pokeraddict View Post
Does it look like it is possible to still make a deposit?
friend of mine attempted to make a deposit 2 weeks ago via instadebit and could not
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Old 11-03-2011, 12:12 AM   #136
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Re: Cereus Plans to Liquidate Assets, Repay Players

https://forumserver.twoplustwo.com/sh...&postcount=746

"We also know by now that Group Bernard Tapie agreed to repay non-USA players and support DOJ with an unspecified amount of money, which will let the Department of Justice reimburse US players, by using both Tapie funds and money frozen on company accounts during The Black Friday."

even tho UB/AP situation is totally different if the bolded statement is true it certainly gives hope to a better reimbursement for Cereus players. DOJ frozen funds are apparently not untouchable.
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Old 11-03-2011, 12:56 AM   #137
anton003
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Re: Cereus Plans to Liquidate Assets, Repay Players

I would totally agree that, even though the UB/AP situation is different from FTP, the fact that the DOJ has "apparently" indicated that they are willing to release frozen funds to pay back players is a major step. It's anybody's guess how much is frozen and how much Blanca can generate through a liquidation, but this would appear to be good news. I believe there were over 75 accounts frozen on black Friday between the 3 companies. Let's pray there were a a few million in each of those accounts. Hopefully, there is some sort of statement upcoming from the DOJ.
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Old 11-03-2011, 10:27 AM   #138
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Re: Cereus Plans to Liquidate Assets, Repay Players

****. One time. Ill take anything i can get. I thought that money was long gone.

Nice to have a little hope.
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Old 11-03-2011, 12:47 PM   #139
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by bdiddy131313 View Post
Email from UB

Thank you for contacting us.

We understand that there is some speculation circulating about the current status of account withdrawals for Non-US players. For you personally, we recognize that this raises some concern about your pending payout at Absolute Poker/UB and why it is taking longer than usual to complete.

At this time, we must advise you that all Non-US player payouts currently in the queue for processing have been placed on hold. This decision has been taken in the interests of expediting the process of distributing funds to all qualified players. We want to assure you that the distribution of player funds has been, and remains, our highest priority.

To this end, you should know that we are currently in active discussions with a number of parties about potential sales opportunities, and we continue to work diligently to devise a solution that will allow us to distribute funds to players. This has been, however, a complicated process, and the determination of appropriate mechanisms for the safe and efficient distribution of funds to players has proven to be an especially difficult task.

Nevertheless, despite a series of formidable obstacles, we believe that we are close to finalizing a well-considered process of distributing funds to players that will be fair for all account holders. We expect, therefore, to issue a statement in the near future, providing the details of this process.

Please understand that ongoing legal negotiations have restricted our ability to communicate publicly more frequently about these matters. We hope that you will understand.

We appreciate your patience during this difficult period, and we will provide you with further information at an appropriate time in the near future.

Regards,
Rick

UB Support
Support@UB.net
I received that same email yesterday, then today they submitted my outstanding payout request for processing... :confused

today's email:

Dear xxxxxxxx

Your Payout of 238 CAD for Account ID yyyyyy has been submitted.

For more details on the status of your request, please click here.

We thank you for your continued business and are always available if you should have any questions.
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Old 11-03-2011, 01:17 PM   #140
bdiddy131313
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by dealace1 View Post
I received that same email yesterday, then today they submitted my outstanding payout request for processing... :confused

today's email:

Dear xxxxxxxx

Your Payout of 238 CAD for Account ID yyyyyy has been submitted.

For more details on the status of your request, please click here.

We thank you for your continued business and are always available if you should have any questions.
sick run good
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Old 11-03-2011, 05:27 PM   #141
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Re: Cereus Plans to Liquidate Assets, Repay Players

pretty big news cos it will obv affect UB
via twitter
CNBC CNBC
Full Tilt Close To Settlement With DOJ - DOJ Would Likely Pay Back Full Tilt Players From Seized $115 Million - WSJ
20 minutes ago
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Old 11-04-2011, 03:52 AM   #142
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Re: Cereus Plans to Liquidate Assets, Repay Players

Absolute Poker and UB Finally Promised Reimbursement

http://www.pokernewsreport.com/absol...bursement-5672
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Old 11-04-2011, 03:58 AM   #143
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Re: Cereus Plans to Liquidate Assets, Repay Players

its still kind of cryptic..

their is no time frame


BUT it is good news...

It sounds like a partial payment fairly soon and more later when assets are liquidated?
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Old 11-04-2011, 04:32 AM   #144
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Old 11-04-2011, 04:42 AM   #145
reztes757
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by grancojones View Post
Absolute Poker and UB Finally Promised Reimbursement

http://www.pokernewsreport.com/absol...bursement-5672
The only factual information about repayment in that article are the quotes from the KGC statement and no where does it say they have announced to repay in full.
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Old 11-04-2011, 04:55 AM   #146
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by grancojones View Post
Absolute Poker and UB Finally Promised Reimbursement

http://www.pokernewsreport.com/absol...bursement-5672
Looks like that article is just reporting the press release that this thread is about and making it sound like it said something other than what it said.
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Old 11-04-2011, 05:19 AM   #147
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Re: Cereus Plans to Liquidate Assets, Repay Players

Don't care what anybody says, cereus did a pretty good job coming out of this mess with the hand they were dealt. I had a small 5 figure sum when they got shut down, and it might have taken 5-6 months, but i got every penny back. Considering what happened to FTP, I think cereus actually did the best job they possibly could.
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Old 11-04-2011, 06:05 AM   #148
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Re: Cereus Plans to Liquidate Assets, Repay Players

how the hell did you get over $10k out when they are cashing out $250/time and it takes months?
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Old 11-04-2011, 06:10 AM   #149
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by darkconcept View Post
Don't care what anybody says, cereus did a pretty good job coming out of this mess with the hand they were dealt. I had a small 5 figure sum when they got shut down, and it might have taken 5-6 months, but i got every penny back. Considering what happened to FTP, I think cereus actually did the best job they possibly could.
What a remarkably objective, well-informed, and selfless view.
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Old 11-04-2011, 09:01 AM   #150
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by darkconcept View Post
Don't care what anybody says, cereus did a pretty good job coming out of this mess with the hand they were dealt. I had a small 5 figure sum when they got shut down, and it might have taken 5-6 months, but i got every penny back. Considering what happened to FTP, I think cereus actually did the best job they possibly could.
And those of us who have more than that stuck but didn't receive a single payout (non US btw) should be happy because you think they did a good job? Oh and of course now they are promising some sort of repayment plan which, for all we currently know, could equate to getting like us 10% of our balances sometime in the next few years. No, I still think they ****ed up pretty badly.
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