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FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)
View Poll Results: Do you want the AGCC to regulate the new FTP?
Yes
1,156 56.58%
No
887 43.42%

07-19-2012 , 12:22 AM
Quote:
Originally Posted by amirapuato
Taking the risk of saying something utterly stupid...

But aren't the last 2 pages of this document the order granting the stay?
The DoJ refers to that as an attachment in the document, and it's not signed. I believe they are helpfully providing the judge with the order so he doesn't have to write it himself. I could be wrong however.
07-19-2012 , 12:22 AM
If that is not signed, it's a proposed order for the court to use if it agrees with DOJ. the side that wins a motion very often is asked to draft the order. Saves the judge work.
07-19-2012 , 12:23 AM
Quote:
Originally Posted by aggo
fwiw,

only markksman could provide legitimate commentary as to what is actually going on right now.
This one I laughed at.
07-19-2012 , 12:28 AM
Quote:
Originally Posted by NeedsToBeSaid
The DoJ refers to that as an attachment in the document, and it's not signed. I believe they are helpfully providing the judge with the order so he doesn't have to write it himself. I could be wrong however.
Quote:
Originally Posted by mpethybridge
If that is not signed, it's a proposed order for the court to use if it agrees with DOJ. the side that wins a motion very often is asked to draft the order. Saves the judge work.
Thx, I expected something like that.
07-19-2012 , 12:30 AM
Quote:
Originally Posted by mpethybridge
If that is not signed, it's a proposed order for the court to use if it agrees with DOJ. the side that wins a motion very often is asked to draft the order. Saves the judge work.
Lame
07-19-2012 , 12:31 AM
Sux that Op is no longer being amended with updates. I can't give 2 ****s about any of it, so I'm not following along. Hoped to grab quick update. So...

I know Bitar turned himself in, did he bond out? How much? I'm SURE have to surreder his passport.

What about GPT bowing out? I saw somewere PS is trying. Is that true?
Spoiler:
Don't bother answering, I'll never see it. Just saying: Title says "Cliffs in Op".
07-19-2012 , 12:33 AM
Quote:
Originally Posted by bulls_horn
Sux that Op is no longer being amended with updates. I can't give 2 ****s about any of it, so I'm not following.

I know Bitar turned himself in, did he bond out? How much? I'm SURE have to surreder his passport.

What about GPT bowing out? I saw somewere PS is trying. Is that true?
Spoiler:

Don't bother answering, I'll never see it. Just saying: Title says "Cliffs in Op".
there are no updates
07-19-2012 , 12:41 AM
Quote:
December 15th - Groupe Bernard Tapie Applies for Spanish Gaming License. With a deadline for applying looming, more then 30 companies have put forward their application of a Spanish license.
This is the last event listed in Op. Every question I ask is more current than this.
07-19-2012 , 12:46 AM
Quote:
Originally Posted by bulls_horn
This is the last event listed in Op. Every question I ask is more current than this.
there are no updates
07-19-2012 , 12:52 AM
I'm not sure this is just a leverage tactic. If Stars is so in live with it's motion to dismiss that JT wanted a ruling on it, stars was already going to have to wait until September or so for the court to rule.

Not sure what's going on beneath the surface. Maybe nothing; might just be a filing to take at face value.
07-19-2012 , 12:56 AM
Quote:
Originally Posted by mpethybridge
The problem with the motion is that Stars is not a fugitive, scheinberg arguably is. So DOJ has to jump through all the alter-ego stuff, which requires showing not only that he is the majority owner, but that he routinely ignores corporate formalities and such like.

DOJ is probably fishing, is probably nervous about the stars motion.

I read up on fugitive disentitlement about a year ago in anticipation of this. May brush up and post more later, but DF did her usual excellent job covering it, so not sure there's much more to say.
07-19-2012 , 12:59 AM
It was likely to come up in the FTP case.
07-19-2012 , 01:03 AM
Quote:
Originally Posted by mpethybridge
Judges usually give them so much latitude and deference that it looks almost corrupt.
almost
07-19-2012 , 01:05 AM
Was being charitable, lolol
07-19-2012 , 01:24 AM
Strange coincidence that the DOJ cites a case, Degen versus the Government, that has nothing to do with gambling.
07-19-2012 , 01:28 AM
I remember thinking the name of that case is too good to be true, lol.
07-19-2012 , 01:28 AM
34K in posts and we are no further ahead than when The Black Friday **** Storm hit.

07-19-2012 , 03:45 AM
I know Stars has absolutely NO responsibility for the FTP disaster but if it comes out that they used it for leverage at the expense of the players in any sort of way, that would make me insanely angry.

I get the feeling it is Stars that walked away and 'changed' something at the 11th hour. If they really had been using FTP as a way just to help themselves with no intention of benefiting the players, that would be pretty gross. They got themselves involved in the sickest slowroll of all time and so now they are tied to how it resolves.
07-19-2012 , 03:50 AM
Quote:
Originally Posted by insidemanpoker
I know Stars has absolutely NO responsibility for the FTP disaster but if it comes out that they used it for leverage at the expense of the players in any sort of way, that would make me insanely angry.

I get the feeling it is Stars that walked away and 'changed' something at the 11th hour. If they really had been using FTP as a way just to help themselves with no intention of benefiting the players, that would be pretty gross. They got themselves involved in the sickest slowroll of all time and so now they are tied to how it resolves.
People like this are why it's so hard to get information about anything by the way.
07-19-2012 , 04:15 AM
this whole 16 month BS has been the sickest slow roll ever.
07-19-2012 , 04:17 AM
It's ok, it's God's will. We have to accept it.
07-19-2012 , 04:19 AM
Quote:
Originally Posted by zizek
People like this are why it's so hard to get information about anything by the way.
lol, sensitive much? 'people like this' have nothing to do with why information is not public.
07-19-2012 , 04:31 AM
Quote:
Originally Posted by insidemanpoker
I get the feeling [...]
Based on what? This information about this terms being changed came from somewhere (well probably). Do you think it was the DoJ? I don't. Do you think people at stars would be eager to tell this story if it were true? Unlikely. Therefore a more plausible feeling to have would be that Stars is not the responsible party. Of course, this is something we are likely to never know unless someone on the inside tells us.
07-19-2012 , 04:37 AM
Quote:
Originally Posted by momo_the_kid
God... Oh man... I am not good at writing long posts like you.
My view or your view on this doesn't matter. What matters is how DOJ views FTP's case. Since they call FTP a ponzi scheme, this means they think FTP is more like Madoff's case and will treat it that way, which means it is highly likely they will do what they did in Madoff's case - clawback dividend from the FTP's owners. If I remember correctly, US government never called Enron a ponzi scheme. This is what make a shareholder at Enron drastically different situation from a owner at FTP.
But it is not the DoJ that is doing the clawing back in Madoff. It is a bankruptcy trustee. And as we see in Rothstein, bankruptcy trustees don't act because the DoJ wants them to, and sometimes they are at cross-purposes with the DoJ. FTP has not been declared bankrupt. There is no trustee. And there is a time limit after which which clawbacks can't be made of payments to people like owners of FTP, and that time limit may have already expired. So, it is not like Madoff in any way that is relevent to clawing back money from owners.

It may well be a ponzi, but it is not like Madoff as far as getting money to compensate victims goes. And because of that, FTP owners are in a situation almost identical to shareholders in Enron. There is a diffrence, and it may be significant, but you don't seem to know what it is.

Quote:
Originally Posted by therealjohnny416
I'm not sure how this can be interpreted as bad news, it has become fairly obvious that Stars and DOJ don't wan't to go to trial but both want the more favourable end of the settlement. I believe the motion to dismiss and this new fugitive entitlement development are just both parties jockeying for position in terms of getting ahead in the settlement.
Star's MTD and the latest from the DoJ are not at all on the same level. Stars pretty well had to file a MTD. It was a normal course of action. The DoJ did not have to do this at all.

This is clearly a leveage move, but whether it is designed to lever a more favorable deal or to get a clear victory in the civil case, I can't tell.

It could be a reaction by the DoJ to a last-minute change from Stars, or it could be part of an ongoing DoJ strategy of ratcheting up the heat, which was previously manifested in the new charges against Bitar.

Since we have plausible reasons to believe that Stars wants a deal, but no particular reason to believe the DoJ needs deal, I'm more inclined to think this is all part of the DoJ getting tough, and is therefore bad news for players getting a Stars-funded payout of FTP debt. There is still hope for remission, though.

Last edited by SGT RJ; 07-19-2012 at 09:38 AM.
07-19-2012 , 05:30 AM
Quote:
Originally Posted by insidemanpoker
I know Stars has absolutely NO responsibility for the FTP disaster but if it comes out that they used it for leverage at the expense of the players in any sort of way, that would make me insanely angry.

I get the feeling it is Stars that walked away and 'changed' something at the 11th hour. If they really had been using FTP as a way just to help themselves with no intention of benefiting the players, that would be pretty gross.
omg, this is probably the stupidest comment in this thread - serious.

PS invested a lot time, effort and money for all this. sure they have something they want and it's just not to help the victims of ftp. but i'm 100% sure they didn't it just to be 'the white knight' for some weeks.

they paid their us-players after BF and they are still the market leader ... so why should they try 'to fool' the community w/ false hopes. makes no sense.


and that PS never confirmed the rumors, just proves this b/c they knew to finish this deal takes times and isn't a sure thing.

DoJ wants something, PS wants something, now they negotiate. w/ the few information we have, we just can speculate.


Quote:
Originally Posted by Kirbynator
I lol'd.
i totally love the fact, that Kirbynators avatar is always up-to-date on the current status of the FTP-deal

      
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