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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%

03-10-2012 , 07:06 AM
Quote:
Originally Posted by dinosours
why did i get an email from FTP support today at 10:53 am?

Thank you for contacting Full Tilt Poker Support.

This is an automated response to confirm we've received your email, and a representative will respond to you as soon as possible.

Please be advised there's no need to reply to this email.

Thank you for your patience.

Regards,

Full Tilt Poker Support


i never contacted them....
You have been sending out spam from your email address. One of these spam emails hit FTP support and you got an automated response. Do a scan etc. of your PC, clean it up, then run through the change password routine...
03-10-2012 , 07:49 AM
Quote:
Originally Posted by DoTheMath
OK. So we are in agreement. Those who are responsible pay. And those who are not responsible don't pay. Now the only problem is you still talk about owners as if they were responsible. Your comments seem to indicate you think owners are responsible because, by being owners, they knew what was going on. I agree that any owner who knew what was going on would share responsibility.

Being an owner does not mean you are involved in running the company. In many corporations, most of the owners are not involved in its management. The owners do not know what is going on. There is evidence that this is true of most owners of FTP. There is no evidence that FTP's non-director owners knew what was going on. If there was sufficient evidence that the non-director owners had guilty knowledge about the distributions, then the law would do exactly what you want it to do: charge those owners.

The problem here is not with the law, or with the lawyers. The problem is that you imagine, without any evidence, that owners must have known the distributions were improper. Just because there were only about 23 owners, it does not follow that they all must have been involved in decision-making. There is evidence (some of which may already have been presented in court) that at least some of FTP's owners had no involvement in or knowledge of decisions about distributions. In most civilized countries one is innocent until proven guilty. Without proof of involvement, the law is not going to go after the owners.

Directors are in a different situation. Directors who did not know what was going on are not immune from responsibility. In fact, a director who disagreed with what was going on is not immune. When one becomes a director, one accepts joint responsibility for the actions for the board, and the board has certain responsibilities. The board is responsible for all distributions. A difference between directors and owners is that the position of director carries duties that the position of owner does not.

It is not reasonble for you to assume that an owner knew what management was doing, or that the distributions were improper. They had no duty to know, and there is no evidence that they knew. It would be reasonable to assume that directors knew these things because it was their duty to know. Even if they were negligent in their duty, and didn't actually know, they still don't escape the responsibility that they took on when they agreed to become directors.

That control system is called the board of directors. They are responsbile for directing management. It is their duty to know what management is doing. The board of directors is appointed by the owners to take care of those things that you seem to assume the owners are doing.

Ferguson and Lederer and Bitar and Furst are the ones responsible and they will have to pay the full amount. If they connot, there is a chance that other owners will have to pay something, but that will not be because they knew anything, nor because they were responsible for improper payments.

What kind of sytem is it that you are owner of a company but you dont have the duty to know whats going on? Its just about directors management thing like. With just 23 owners i think its too simple to say these people didnt know. I dont know if they did or not i just see the responsibility here.
I dont know if the law sees responsibility too. These havent been thousands of owners. 23 owners as you say. I dont assume anything i am asking questions. Of course i wouldnt like to accuse people who are not responsible. But for me something is wrong with the system too if someone can get millions of dollars profit from a company and he hasnt to know whats going on at this company. I mean no matter how you look at this there is one fact the money is gone and you cant go around and say well this guys didnt know or this guys did know there is something called responsibility. If owners can make milions of profit and if something goes wrong they can say they had no knowledge and they even dont have the duty to do then such things like FTP scandal can happen again and again in future and poker site owners would think we get away what can happen. So i think the law should put some kind of order here. You cant take millions of dollars of people in whole world and then say things went wrong we didnt have knowledge and whatever.
So much money is gone players lost their bankroll there is responsibility and of course i see responsibilty of people who filled their bank account with millions of dollars of players. Some will say they made profit when FTP was working and from players rake well that doesnt count anymore when you owe thousands of players millions of dollars at the same time. You cant say this is my own money anymore if so many players are not paid back. All the money with that bank accounts of owners have been filled should be used to pay players back.
So the law should go this way my opinion but as i said i dont know laws that good in this but if laws dont go this way then these laws should be improved for future.
03-10-2012 , 07:59 AM
It seems doubtful that the sticking point is the license, given that they've been negotiating with AGCC on some level since the FTP license was about to be pulled about 6 months ago. All signs then, from the fact that AGCC said pulling the license had no effect on someone else applying to reinstate it to AGCC's blatant disregard for its own rules when it can make money selling licenses to the fact that GBT has never mentioned this as a significant challenge suggests that GBT has guarantees from them in place that they can quickly obtain the license.



Much more likely, if it looks, smells, and tastes like a duck, it's a duck: the issue is exactly what they're telling us it is. They're simply trying to make the numbers work on their end so as to keep their exposure and risk to levels that they are comfortable with.
03-10-2012 , 08:10 AM
I called the Alderney Commission and asked about any previous conviction acting against any new licensing applicant and was told by them, that they review each case seperately and does not mean that it will exclude anyone from receiving a license from Alderney.

So GBT could get a license.
03-10-2012 , 08:12 AM
Quote:
Originally Posted by EYESCREW
I doubt I'll ever get an answer to this but why is it so hard for people with different interpretations of the facts to discuss them without throwing mud at one another?
Because we're taught normal English in schools and not E-Prime. In E-Prime the "be" verbs are taken out, so nothing "is"...it's all "appears to me", "my view", and "my perspective". This avoids statements of declarative fact everytime we state our perspectives on issues.

"Politician X is a tyrant" as opposed to "Politician X appears to me a tyrant" makes all the difference in the world.

Most arguments in human society could be avoided by teaching our children E-Prime instead of the clumsy version of the English language we all speak.

BTW, I'm just as guilty as the next person...I don't speak E-Prime fluently (I haven't had the time to master it), and I also take offense at declarative statements of fact which evoke emotional reactions. I then reply with my own "mud throwing" EVEN THOUGH I know better.

Humans are yet primitive in cognition and linguistic expression. Evolution will fix it if we survive another few tens of thousands of years.
03-10-2012 , 08:34 AM
A friend just sent me a article link to a Bernard Tapie piece, nothing much new in the article, very much a review of Bernard Tapie.

BUT, it is a two part series they say, and Sunday will be gaming lawyers speaking about FTP, Laurent Tapie, and about that new equity company looking at the software.

http://www.gaming-awards.com/NEWS/archives/6010
03-10-2012 , 09:31 AM
Quote:
Originally Posted by foldacedeuce
A friend just sent me a article link to a Bernard Tapie piece, nothing much new in the article, very much a review of Bernard Tapie.

BUT, it is a two part series they say, and Sunday will be gaming lawyers speaking about FTP, Laurent Tapie, and about that new equity company looking at the software.

http://www.gaming-awards.com/NEWS/archives/6010
Its a sad day when we all have to rely on this crook and Tapie group for the return of our funds but unfortunately he's alll we've got.

How can this man possibly be trusted?

Last edited by FTPHater; 03-10-2012 at 09:41 AM.
03-10-2012 , 09:33 AM
Quote:
Originally Posted by truthsbehind
What kind of sytem is it that you are owner of a company but you dont have the duty to know whats going on? Its just about directors management thing like. With just 23 owners i think its too simple to say these people didnt know. I dont know if they did or not i just see the responsibility here.
I dont know if the law sees responsibility too. These havent been thousands of owners. 23 owners as you say. I dont assume anything i am asking questions. Of course i wouldnt like to accuse people who are not responsible. But for me something is wrong with the system too if someone can get millions of dollars profit from a company and he hasnt to know whats going on at this company. I mean no matter how you look at this there is one fact the money is gone and you cant go around and say well this guys didnt know or this guys did know there is something called responsibility. If owners can make milions of profit and if something goes wrong they can say they had no knowledge and they even dont have the duty to do then such things like FTP scandal can happen again and again in future and poker site owners would think we get away what can happen. So i think the law should put some kind of order here. You cant take millions of dollars of people in whole world and then say things went wrong we didnt have knowledge and whatever.
So much money is gone players lost their bankroll there is responsibility and of course i see responsibilty of people who filled their bank account with millions of dollars of players. Some will say they made profit when FTP was working and from players rake well that doesnt count anymore when you owe thousands of players millions of dollars at the same time. You cant say this is my own money anymore if so many players are not paid back. All the money with that bank accounts of owners have been filled should be used to pay players back.
So the law should go this way my opinion but as i said i dont know laws that good in this but if laws dont go this way then these laws should be improved for future.
It's the system we have that says that owners don't have responsibility solely because of their capacity as equity participants in a corporation, LLC, LLP, etc (not true of a general partnership but no one uses that vehicle knowingly). That "we" is somewhat limited to the US as many other nations are not as protective of owners in small corporations and would find not only monetary responsibility but also criminal liability for failure to maintain certain capital requirements (it's true in Italy where I currently reside, go bankrupt and fail to have required stated capital in a corporation and you may go to jail). I don't know what the law is in all the jurisdictions where the various entities commonly referred to as "FTP" were formed but I suspect they chose promoter friendly jurisdictions.

As to there being "only" 23 equity participants, in my experience, in an organization of that size, probably only 3 to 5 of the owners would be really aware of what was happening with the organization. I saw that to be true in small business organizations of all types including law firms where often the lower ranking partners assumed that the senior partners were managing the business well and didn't bother to ask for much information.

What's not been much discussed, and where some substantial possibility for liability exists, is "endorser liability." Some years ago, maybe too long ago for many of the younger players to remember, you saw Hollywood celebrities endorse various investment schemes. Then a whole number of them had to cough up large sums, including sometimes everything they owned, to cover endorser liability when the deals went bad. Now such endorsements are rare; I can't remember seeing one in a long time. I don't know enough facts to reach a conclusion with regard to the FTP pro's but there certainly are enough public facts suggest that could be a possible point of vulnerability. The problem may be that they are mostly deadbeats.

Last edited by Gioco; 03-10-2012 at 09:34 AM. Reason: correct spelling
03-10-2012 , 09:46 AM
Quote:
Originally Posted by foldacedeuce
A friend just sent me a article link to a Bernard Tapie piece, nothing much new in the article, very much a review of Bernard Tapie.

BUT, it is a two part series they say, and Sunday will be gaming lawyers speaking about FTP, Laurent Tapie, and about that new equity company looking at the software.

http://www.gaming-awards.com/NEWS/archives/6010


This article is a joke, highly biaised against Tapie... and written by people who obviously have no clue.
03-10-2012 , 09:50 AM
Quote:
Originally Posted by FTPHater
Its a sad day when we all have to rely on this crook and Tapie group for the return of our funds but unfortunately he's alll we've got.

How can this man possibly be trusted?
Correct and no sane individual would trust someone with this history with any amount of their own money, let alone a sizeable one.

I am also of the belief criminals should be kept out of running gambling establishments. Certainly in the uk it is one of the most major requirements for operators. Lol at whatever jurisdiction gives this guy a gambling licence.

The players need paid back from FTP. I feel especially bad for USA players who never got a chance to even try and withdraw post black friday. This money needs to come from the owners and shareholders. I feel sick when I see photos of Jen Harman at the PCA or phil Ivey playing big tournaments. There have been reports of lederer sightings as well. I just don't get it.
03-10-2012 , 09:58 AM
Quote:
Originally Posted by pokouz
This article is a joke, highly biaised against Tapie... and written by people who obviously have no clue.
But the report is factually correct so why are you a supporter of such a crook?

Would you trust him with your money?

More fool you if the answer is yes.

Do you want to give us your version of his biography?
03-10-2012 , 10:09 AM
Harry, you need to find better things to do with your time than post 100x more than everyone else. Oh and as to your claiming I was somehow gonna welch on a bet, I explicitly said I would escrow the money with someone you agreed with, so you are called out LIAR.

I LOVE GBT and so will 10,000+ others if he bails out the poker world! He will be a god to the poker world, and rightfully so, if he pulls this off.
03-10-2012 , 10:14 AM
Quote:
Originally Posted by FTPHater
blablabla
Come on Harry, you got to work a bit more on your troll if you want a proper answer from me
03-10-2012 , 10:17 AM
Quote:
Originally Posted by insidemanpoker
Harry, you need to find better things to do with your time than post 100x more than everyone else. Oh and as to your claiming I was somehow gonna welch on a bet, I explicitly said I would escrow the money with someone you agreed with, so you are called out LIAR.

I LOVE GBT!
In the past month its now 8 posts in this thread absolutely none of which relate to a discussion of FTP

You are an habitual derailer not worthy of response.

Keep posting non related rubbish as it will fall on deaf ears from her on in.

In the meanwhile dont forget to kiss Tapie on both cheeks he is French....his butt cheeks as you have so much love for him.
03-10-2012 , 10:19 AM
Quote:
Originally Posted by FTPHater
Blahblahblah
Lol. I am still undecided as to block FTPHater or not...
Its 50/50 at the moment.
03-10-2012 , 10:24 AM
Why are you so angry toward the french Harry ? Are you fearing a defeat at rugby tomorrow ?
03-10-2012 , 10:35 AM
Too many trolling derailers with nothing of note to contribute.

So very very sad.

Feel free to continue I shall not fall into the trap of perpetuating your derails.
03-10-2012 , 10:38 AM
Has anyone an opinion on wether we will still have our 27% rakeback deals in place if this deal goes through.
03-10-2012 , 10:46 AM
Quote:
Originally Posted by deucejuice
Has anyone an opinion on wether we will still have our 27% rakeback deals in place if this deal goes through.
Tapie said that all he wanted to change was the FTP logo and that was it. So if you recieved rakeback before, i am sure you will once it re-opens.
03-10-2012 , 10:48 AM
Quote:
Originally Posted by deucejuice
Has anyone an opinion on wether we will still have our 27% rakeback deals in place if this deal goes through.
It would be suicide for them to abolish the affiliate system.
03-10-2012 , 10:51 AM
I think FTP owe a lot of money to affiliates? They need to square that debt for sure in any purchase deal.... Does anyone know how much that debt is?
03-10-2012 , 10:53 AM
Quote:
Originally Posted by FDSaussure
It would be suicide for them to abolish the affiliate system.
It would be smart/good for them to switch from a fixed rb system to a flexible point/bonus based fidelity program. So i think we can expect them to do it.
03-10-2012 , 11:20 AM
Hopefully they do bring the rb back, I am playin Party at the minute and am missing my 27%
03-10-2012 , 11:21 AM
Quote:
Originally Posted by pokouz
It would be smart/good for them to switch from a fixed rb system to a flexible point/bonus based fidelity program. So i think we can expect them to do it.
I would have agreed a year ago but FTP are going to have like no marketing budget and affiliates have a strong incentive to market FTP hard when it comes back, especially to non-supernovas who essentially get no rakeback at Stars.
03-10-2012 , 11:29 AM
All of you knock off the derails and bickering. If you don't like someone else's stance you can debate politely or ignore them. Anything else is out of bounds in this thread.

Do we have to do this every couple of weeks? JFC.

      
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