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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%

10-17-2011 , 12:09 PM
Quote:
Originally Posted by AlphaScorpii
I thought the same... Mb tapie was unsecesful with the DOJ "himself" so he hired this lawyer, or news are just late...
Are you really under the impression that Tapie would go to the DOJ himself and negotiate? I'm sure there is a massive bunch of lawyers doing this job for them.

That said, I think this is one of the best news in the near past (I know there were few ). Things are starting to look good, I mean, Pokerstars, Partypoker, NETeller all got things done, why wouldn't Tapie?
10-17-2011 , 12:21 PM
If I had to translate i would say Tapie is conbination of Elvis, F. Sinatra and Ronald Raegan all together
10-17-2011 , 12:23 PM
Does anybody know if contracts for buying ftp funds are legally binding in the UK?
10-17-2011 , 12:30 PM
Quote:
Originally Posted by AvoidMe?
Are you really under the impression that Tapie would go to the DOJ himself and negotiate? I'm sure there is a massive bunch of lawyers doing this job for them.
Did you see my quotation marks on word "himself"? I put those because I'm not sure does the lawyers, counselors or whoever making deal for Tapie...
10-17-2011 , 12:37 PM
Quote:
Originally Posted by MICK E JUICE
Just reading an article and not sure if this has been discussed at all but I'll ask anyways.

Can anyone please enlighten me as to how in the hell FTP got a license with ARJEL when they were in financial trouble at the time?
ARJEL also require licensees to have segregated accounts as i recall.
I would have thought the application process for a new licensee would include fairly intensive auditing etc especially initially anyway. Over time I can see how things get missed (or lied about) but to license a company that doesn't have player liabilities covered or segregated accounts to put that supposed money seems pretty bad.

Soooo... French government start regulating to protect players (me thinks this is more like get taxes) and pretty much as soon as they open their doors they license a company in financial difficulty which also happens to be where the majority of frenchies will invest their $$$...next to ps ofcourse.
To understand how FTP got a licence in France in light of their problems elsewhere, it is important to understand that FTP actually never had any licences anywhere. The AGCC licenced Filco, Vantage, Oxalic and Orinic. ARJEL licenced REKOP. REKOP doesn't necessarily share in any of the financial dificulties of the other companies.

The DoJ actions mostly should have caused financial problems for Vantage, since that is the company directly dealing with North Amercans. FTP's poor management practices seem to have resulted in greater spread of those problems to the related companies than would have happened if their corporate empire was actually set up the way it is apparently represented on paper to regulators.

Problems at Vantage should have affected Pocket Kings, My West Nook, Kolyma and Tiltware, due to reduced revenue stream, but they should not have affected Filco, Oxalic and REKOP, until the impacts on Pocket Kings resulted in that company being unable to continue to provide services to Filco, Oxalic and REKOP. There is no indication that Pocket Kings got to that point until well after the AGCC and ARJEL suspended the licences.

So theoreticaly, REKOP didn't or shouldn't have had any financial problems that would stop them from getting a licence from ARJEL.

Practically speaking, even if REKOP was suffering because of other problems in the FTP empire, if ARJEL was as lax as AGCC and many other regulatory agencies apparently are in fact-checking submissions from applicants, it wouldn't have been too difficult to deceive ARJEL into believing that REKOP was healthier than it was.
10-17-2011 , 12:45 PM
Quote:
Originally Posted by oneonth3run
According to kevmath via Gaming Intel, Tapie has hired the lawyer who assisted Party for a settlement:

"Gaming Intelligence is reporting Group Bernard Tapie has hired lawyer who negotiated Party and Neteller settlements with DOJ."

Significant?
I'm an ignorant oaf, but to me it's a sign that he's "serious business" and that this isn't some sort of "scheme" or that he's just ****ing around. Which I sort of believed was the case (probably due to my own ignorance).
10-17-2011 , 01:16 PM
Quote:
Originally Posted by oneonth3run
According to kevmath via Gaming Intel, Tapie has hired the lawyer who assisted Party for a settlement:

"Gaming Intelligence is reporting Group Bernard Tapie has hired lawyer who negotiated Party and Neteller settlements with DOJ."

Significant?
It's definitely a sign that things are routing in the right direction.
10-17-2011 , 01:25 PM
Quote:
Originally Posted by oneonth3run
According to kevmath via Gaming Intel, Tapie has hired the lawyer who assisted Party for a settlement:

"Gaming Intelligence is reporting Group Bernard Tapie has hired lawyer who negotiated Party and Neteller settlements with DOJ."

Significant?
Whats this guys name?
10-17-2011 , 01:54 PM
so i have 1800 dollers on my ftp account what chances are people giving me that il see it again....
10-17-2011 , 02:13 PM
Quote:
Originally Posted by dishcloth
so i have 1800 dollers on my ftp account what chances are people giving me that il see it again....
Your BR is worth about $1k right now
10-17-2011 , 02:23 PM
Quote:
Originally Posted by dishcloth
so i have 1800 dollers on my ftp account what chances are people giving me that il see it again....
Ask the market. Currently buyers are asking around 30-40c on the dollar.
10-17-2011 , 02:24 PM
Quote:
Originally Posted by oneonth3run
Ask the market. Currently buyers are asking around 30-40c on the dollar.
fwiw, that does not directly correlate to a 30-40% chance...there is a significant risk factor taken into consideration, so it's more like 30-40% + X% (risk factor). what X is is not really that clear
10-17-2011 , 02:28 PM
Quote:
Originally Posted by elstunar
fwiw, that does not directly correlate to a 30-40% chance...there is a significant risk factor taken into consideration, so it's more like 30-40% + X% (risk factor). what X is is not really that clear
Right. I'm only stating known numbers.
10-17-2011 , 03:52 PM
Wrt to Tapie hiring the lawyer that represented Party Poker I think it can be viewed two ways.

A) it can mean negotiations are progressing and an experienced attorney is needed to help dot the I's and cross the T's.

B) it can also mean things aren't progessing as smoothly as hoped and an attorney with experience in these matters is needed to assist in getting a more favorable result.

With so little info about the negotiations being released it's impossible to really know one way or another.
10-17-2011 , 03:55 PM
no word from ifrah today?
10-17-2011 , 04:01 PM
Buffalo Bills lost so Jeff is pretty upset ... we might not hear from him until they win, bad news they have a bye week next Sunday

But in all,seriousness I think if something significant happens players will be informed ASAP
10-17-2011 , 04:08 PM
In an ideal world the victims of such a massive crime would be allowed to have a representative on hand during such negotiations to help protect their interests. I'd be ok with the DOJ being the rep if they had a liason that players could contact for information. There's no reason for players to not be able to obtain updates on a regular (weekly?) basis.
10-17-2011 , 04:13 PM
Quote:
Originally Posted by insidemanpoker
no word from ifrah today?
It's kind of out of his hands now. I don't expect that he would be the one reporting or breaking any news. That would come from Tapie and DOJ.

The only immediate issues would be if there was a deadline on anything Tapie signed on with acquiring FTP. That's something we haven't heard lots about, but I expect that Tapie has a timeframe for executing this purchase that he will abide by. So no news is not necessarily good news.
10-17-2011 , 04:17 PM
Quote:
Originally Posted by EYESCREW
In an ideal world the victims of such a massive crime would be allowed to have a representative on hand during such negotiations to help protect their interests. I'd be ok with the DOJ being the rep if they had a liason that players could contact for information. There's no reason for players to not be able to obtain updates on a regular (weekly?) basis.
In that ideal world the rep would have to be someone with a rep like Ghandi and also be a poker pro! I can't think of anybody Also it would be helpfull if the DOJ really cared about keeping us informed on an ongoing case otherwise not a bad idea
10-17-2011 , 04:23 PM
Interview with Antonius: http://www.pokertube.com/free-poker-...nius_in_Cannes

Says he has more money tied up than he got paid by them the past years and that nobody has talked to him.

Last edited by ulken; 10-17-2011 at 04:25 PM. Reason: FTP stuff starts around 8:50
10-17-2011 , 04:40 PM
Quote:
Originally Posted by ulken
Interview with Antonius: http://www.pokertube.com/free-poker-...nius_in_Cannes

Says he has more money tied up than he got paid by them the past years and that nobody has talked to him.
yeah he got 9 000 000 000 $ of "phantom cash" locked up but in his surrealistic mind believes he has money locked up, just can't differ between real money people deposited and the fake money the team full tilt put on the tables.
10-17-2011 , 04:52 PM
That's the thing that kind of annoys me the most. I can't prove it, but I feel like probably "all" but definitely "most" "real" players like myself and other could be payed TODAY if you took the money the DOJ seized plus any extra cash Full Tilt had on hand 04/15/2011. The only deficit at that point would be red pros, yet here we sit and wait ... because apparently it's the end of the world if not every last person can get paid at the exact same time. Paying us back is "all in" or "fold" ... :/
10-17-2011 , 04:55 PM
Quote:
Originally Posted by ulken
Interview with Antonius: http://www.pokertube.com/free-poker-...nius_in_Cannes

Says he has more money tied up than he got paid by them the past years and that nobody has talked to him.
Personally, I find this extemely difficult to believe.
10-17-2011 , 05:10 PM
Just a couple of questions to see what the general feeling in the community is, and how much it's changed over the last couple of weeks:

1. Do you believe you'll have access to your FTP funds again? How confident are you?

2. If so, what kind of timeline do you think is realistic?
10-17-2011 , 05:12 PM
I feel like we just need to trust Tapies word. At this point its all we have and he said the industry will kno more end of the month. If nothin happens in 2 weeks ill be worried

      
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