this article is saying that the doj has removed his law suit against ftp...true or not?

Who cares about our monies. The real question is when is FTP2 open!
You got your priorities wrong buddy. I just wanna play poker again.

Well they may offer a large amount of MTT's, have the best customer service and everything you want, they are light years behind good ol' FTP in terms of software awesomeness ! Many people seems to agree at least ont that point.
Add the fact that I am a cash game player, so no rakeback is def a deal breaker....
I'll be happy not only to get my life roll back but also my working tool which is prolly even more valuable...

lol at that source. 'an attorney in los angeles' who isn't even connected to this situation in any way shape or form giving random opinion. screw this site.

I'm not reading everything that happened while I was gone, but for the record, removing the cliffs from this thread was done by me, and it was a mistake. I meant to copy over the cliffs into the PH thread, not remove the cliffs from this thread to there. Sorry about that, and I'm glad to see that the cliffs were put back.

Oh, and I'm back. So quit complaining about other posters. And commenting that someone should "die in a grease fire" is never acceptable for this forum/thread. Jesus.

Didn't the agreed $80 million purchase price between BTG and the DOJ include a European bank account loaded with approximately $40 million? I didn't see mention of this in the cliffs and it probably should be.

If you have a link to that specific info I can throw it into the cliffs. I don't recall this specific detail off the top of my head, though.

Which isn't to say it isn't true, I'm just saying I'd like to have a source before I include it in the cliffs.

"The next key step will be for the actual forfeiture(s) to the DOJ, and the DOJ’s dismissal of the civil charges against the FTP companies. It is believed that these steps will take place shortly."

So, anyone know how THIS is going?

Confirmed, I'll find you the link.....

WSJ Online Nov 18

The deal allows for some money in bank accounts associated with Full Tilt that were seized by the U.S. government to be given to the investment group, according to the agreement letter. Accounting for that, the amount spent by Groupe Bernard Tapie for the assets would actually be around $40 million, according to a person with knowledge of the situation.

Dear Sir, if I interpret the following article

http://www.huffingtonpost.com/2011/1...99.html?ref=tw

correctly there seems to be a (slight) chance that you might be right concerning your answer to c).

My respect for your predictive powers is growing...

I'd guess that anyone involved in fraud, or anyone who was generally incompetent (responsible for the phantom deposit mess, say) will be purged as the first order of business. Maybe I'm wrong. FT was a reasonably big company, and I imagine a lot of people will remain from before. At the same time, I doubt very many of the people there were actually responsible for what FT did.

Those aren't mutually exclusive. He can profit and do me a favour at the same time. If he doesn't bail out FT, I'm out a large sum of money. If he does bail out FT, I'm not. I don't mind if he profits in the process.

Understand the context of my comments. Eyescrew had said he did not understand why anyone would go back to a company which had scammed players. I was pointing out that it's not the same company. Holding the new FT responsible for the sins of the old FT is like holding a child responsible for the crimes of her parents. I'd rather wait to see how the child turns out before passing any judgments.

Pay site, tho.

But I'll add it to the cliffs anyway, thanks for confirming.

If by "news" you really mean news, then it's certainly possible, although the interim holidays/vacations certainly could play a part in a delay.
If by "news" you mean getting your money, or some guarantee of a date when that will happen, the answer would be no.

Obviously I have no problem with the attorney not wanting to be named, but since we, as yet, do not know the manner in which payments will be classed (remission, mitigation, restoration, etc), it would be impossible to speculate what procedures would need to be followed. Seems more of a comment about what could be possible in general, rather than what is likely to happen in this particular case.

Its not true. When the forfeitures of assets from ftp companies takes place, the DOJ will be dismissing the civil complaints against the companies only. Neither of those two things have happened as yet.

They've been saying this since Dec 2010. And if by "US Players" he means all of the US, then I'm doubtful. Loveman stated publically that it would take regulators 1 year before they allow sites to offer games.

Thank you sir.

Technically this is a little misleading imo. GBT will be paying the DOJ $ 80 million for the assets that are forfeited. Then GBT will get help to obtain the release of funds in the currently "frozen" or otherwise restrained since BF overseas bank accounts previously owned by FTP companies, which likely total $35-$40M. The DOJ does not have title to those accounts.
The DOJ will actually get the payment of $ 80M. It makes a difference.

Does your 'help to obtain the release' basically equate to DoJ dropping their indictment to these accounts? It's not like any other party has frozen the cash. I suppose GBT are helping the DoJ to release the funds.

Your rest of your observations are the very foundations that the deal is built on IMO.

The ~$40m has to be worth little to the DoJ; be years (if ever) that the DoJ would have seized that money.

Similar situation to the ~$122m phantom debt 'owed' to FTP; worth nothing to GBT but a whole lot more to the DoJ who are in a unique position to collect the deposits or offset where balances allow.

Win, win.

DoJ drop their claim to ROW accounts and the $35m+ remains the property of FTP2.

Not just that, but the DOJ was going to have to contest a claim put in by a player on that ~$40M, and that ~$40M seized on BF for money laundering could have been ruled impermissible to use for remission from fraud, but the $80M directly from GBT for FTP assets can be stipulated to be used for remission.

Win, win, win, win.

very interesting

or because some people (like me) prefer their software to any other.

Jeez.....I guess that player is hoping FTP2 is a successful venture!

Actually, strictly speaking, they are mutually exclusive. A favour is an act motivated by generosity. I'll agree that his acting on his own self interest can also be to your benefit, but that's not the same thing. [/semantics nit]

I guess I saw your comments, especially the comment that the operators would be "completely different" as being diametrically opposed to Eyescrew's view. I'm trying to suggest the truth may well somewhere between those two points. There will be new owners and a new CEO, but some management will be held over. It will not be a completely new company. Couple that with Tapie's past and I think you get something that is less risky than FTP1, but more risky than "completely different" from FTP1.

so whats the next step? and/or when is the next time we should aspect news