IF Tapie was the last line of defense against bankruptcy, then there should be no real arguments as to which scenario is preferable for ROW players.

Not a clever man in my opinion.

How did he expect ROW players to react when they couldnt withdraw without penalty?

How in anyway could the new site be deemed credible, trustworthy or fully capatalised.

Forget the reason GBT gave for puling out what about getting a regulator?

As I mentioned several times, what kind of crazy regulator would allow FTP2 to reopen without all the players funds in place?

Im not totally, selling the assets "might" have been a better scenario if added to the DOJ confiscated pot.

As it turns out (thank ****) Tapie wasn't the last line of defence.

Negative more than that depending how many shares he could sell off to other investors, but the actual amount negative isn't important, the fact that his plan resulted in him getting paid (net positive) to take ownership of the company is mind blowing.

I have no clue how private equity really works, in that how GBT can recapitalize FTP without having his money at risk should the company not be profitable, that's a DoTheMath question.

Tapie is a business man first who happens to like poker. GBT is a private equity investment firm that specializes in pillaging distressed companies (in the process I outlined a few posts above) to turn a profit and to leave the said company in the dust.

That's what private equity firms do, and really shouldnt surprise anyone.

BUT as I said, if you had to pick between bankruptcy and Tapie, even given what we know now, there is no choice to be made.

I remember when I suggested that Tapie would try and pull this **** and was shot down by all the Tapie fan boys who said he would never do this........

Im guessing his intended "repayment plan" was even worse than he hinted at in his statement.

Even his lawyers statement shows a huge degree of naivety.

I was a Tapie fanboy because I'm a US player who had 5 figs locked up and had ZERO concern about how ROW wouldve fared.

I knew
(a) Tapie was shipping 80 mill to the DOJ for US repayment
(b) Howard/Furst/Bitar/Ferguson frozen assets were in play to go towards US player repayment

as far as I was concerned, I wanted the deal badly to go through because it gave me the highest chance to see a large % of my money back. ROW could go twiddle their thumbs after april 15th for all I cared.

Can't wait until this is all over and this thread is closed.

bring back hdmet IMO

On a side note, I was kinda surprised that 95% = 16 million. Gives you an idea how top heavy online poker is.

It's probably been mentioned but sorry to the guys that had been banned on Stars and were playing Full Tilt because Stars wasn't an option.

Doesn't seem likely Stars will allow Full Tilt players to continue playing if they have been previously kicked off Stars for whatever reason.

Why are you sorry? If they were banned from Stars for cheating or something, why are you apologizing to them?

I hope Tapie lost millions.

Nothing changed ppl

Or was he?

But how many players are active at and of them how many of the active players just play microstakes? Maybe 5% means 1k+ balances or even less, hence all players whith any type of balance worth withdrawing would be stuck with a bonus instead of money.

He will have more time for his other project: his "Aircraft Management Services" company.

Company number: 0831.599.509
Name: Aircraft Management Services
Address: Avenue Ernestine 4
BE 1050 BRUXELLES - BRUSSEL
Legal form: Private company with limited liability
Annual accounts filed with and accepted by the NBB
No annual accounts included in this catalogue

http://www.ejustice.just.fgov.be/tsv...3/12011020.pdf

(change of address in january of this year)

http://www.ejustice.just.fgov.be/tsv...4/10180529.pdf
(creation of the company at the end of 2010 by Bernard Tapie, the company can among other buy and sell aircrafts).

Or maybe he should go back to his old love and find a soccer team to fill the Wembley Stadium for the day booked for the ISPT.

As it seems it looks like that number is skewed. Inactive accounts. People who forgot their account and made new ones. I think that's the total number of "real money players" who are registered. Pretty much everyone I know has an account. Doesn't mean they play poker or had money on FTP. I think they counted all those players. Which if true is scummy IMO.

Some people have tried discuss how complicated a deal this was and it would be complicated to complete. Many of those people were shouted down and run off by people with no clue how businesses work or how business deals get down.

Dunno why anyone ITT would hate on GBT. At least they tried and it was our best hope for a good while. We'd all be popping bottles of chateau tapie if they'd made it work.

Just because a new & shinier saviour comes along doesn't mean the previous saviour was a worthless bad guy.

Based on the details that are coming out now it doesn't look like Tapie was ever interested in getting a deal done that would have allowed immediate cash outs.

As such the only deal that was close to being completed was one that would have been unsatisfactory to most players with any significant amount of money on there.

We will see what happens but the deal never made much sense unless Tapie paid as absolutely little as possible. He was trying to steal FTP from the beginning not come up with 500 million to take on a business that might never make its investment back.

I am really hoping something works out and people get relayed but several people in the past year have outlined why a full instant repayment from Tapie might not happen.

I hope for a miracle for all of you stuck here and I hope for the best. If stars is doing something their motivations are entirely different and what did not work for Tapie (if it is done) might work for them. Although skeptically I feel like stars can wait out the doj and just buy the software for a lot less thus inhibiting competition. They would have to get something substantial from the doj for a full repayment. It doesn't make sense as a straight transaction right now. Perhaps the doj would lower the fine to offset some of it.

Who knows what is going on with Tapie or stars right now?

This is one thing people need to realize in business sales a lot of time things don't work out. That is the nature of the beast. This is a much more complex set up then most.

also if this new saviour is for real it only came along because he didn't want a competitor to come back. assumedly pokerstars would not give a **** to buy full tilt without fearing Tapie as a cempetitor!

50k ? No chance. Much more likely it was closer to $100. So if everyone over 100 dollars got paid back over twenty four months maybe.

This should not be a surprise to anyone since Tapie was trying to determine the best way not to pay all the money back right away and we all knew it.

Suffice it to say the top 5% starts well under 1000 dollars, likely way under it.

my god

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