Finally we have progress in the thread.

Best party ever if that happens?

"I like cinnamon rolls, but I don't always have time to make a pan. That's why I wish they would sell cinnamon roll incense. After all I'd rather light a stick and have my roommate wake up with false hopes."

Is this some prick move or is something actually been going on? I see Noah chimed in about something else entirely wtf people!

At least. If any one party (any of the 24 defendants or 4 plaintiffs) wants to drag things out, they can do so. If more than one defendant decide to dig their heels in, it could be close to a decade. The issues in this case are extremely numerous and complicated.

But I doubt anyone has pockets deep enough to pay the lawyers for a fight that long.

Obvious troll by 'progress'

look at his post history, i dont understand it

And that is where clawback will occur from civil suits such as Todd Terry. Clawbacks are now becoming a standard practice used by lawyers to recoup funds that investors and lenders have lost.
Urge everyone here to Google clawbacks ..read into Scott Rothsten scam. If it does come to clawbacks look for players who had money put into their account without their credit card or bank account charged be brought into civil suit to recoup funds

definition of clawback
"Clawback” is a nickname for several interrelated types of claims that can be asserted by a bankruptcy trustee to recover money paid out to investors in a Ponzi or any Corporate scheme before the scheme was revealed. Broadly speaking, the function of a clawback is to recover payments that were made out of the corrupt fund before the scheme was discovered and return those monies to the bankruptcy estate so that they can be distributed to creditors – i.e., the victims of the fraudulent scheme – in accordance with the priorities established by the Bankruptcy Code. Clawback claims come in two types: preferences actions and fraudulent conveyance actions.

Again please Google and research Clawback as I can see that Government and Civil suits will be heading in this direction.

NoahSD want to commend you on your work here. We all owe you big time! Would urge you to try and get several other 2+2 mods(I would recommend Vanessa Selbst to be involved she graduated from Yale University and is currently a student at Yale Law School) to somehow demand a meeting in one room with all parties involved being potential investors, DOJ lawyers(probably impossible)and FT Directors that are directly involved in the process. I am sure FT is reading here and it is in their benefit to at the very least have a meeting with 3-5 members of 2+2 to get everything out in the open instead of these moronic statements being released.
Failure for FT to not agree to this would be extremely damming and very telling on where this is all going

This is the spirit!
I still think a deal is much more likely outcome than BK because besides players, it is also in DOJ, FTP and AGCC's best interest to see players get paid and FTP reopens. They can work together to make the price right for the investors.
Dear investors, make it happen! I will play on the new FTP day and night if FTP reopens and I believe lots of people here will do the same too.

When the price already is free to whoever wants it, theres not much else you can do.

I doubt the court will see those debts as retrievable.

However, I do hope they can retrieve funds pay to shareholders and/or team full tilt members who received large payments for a variety of reasons.

4.6% in 5 years is about what I expect if no buyer comes through. They'll have to use up whatever is left of our rolls to pay their attorneys.

No, there are a lot of things DOJ and FTP owners can do to help to make the deal happen and players get paid. DOJ can reduce the fine or turn it into installment payment and FTP owners can put in their own money. All these will reduce the initial required amount from the investors and make the investment more appealing. If US players have a rep there in the negotiation, I believe at some point we can accept installment payment too to help the investors as long as it is within a reasonable time frame,like 10% of your balance every month over 10 months or sth.

yeah this is completely feasible except for being an unsubstantiated fantasy.

neither the DOJ or the AGCC has said or done anything that would indicate that they are willing to take these measures.

Also, youre assuming that there is a deal to be made -- which is also totally unsubstantiated.

basically what youre saying is

"If the AGCC and the DOJ act in a manner completely inconsistent with their past behavior, it might possibly facilitate an investors purchase of FTP, even though there is no one interested in purchasing FTP. If the players have a rep in the negotiations, even though none of the parties involved has ever idicated the slightest willingness to communicate with the players, the deal might even get better!"

Have you studied game theory before? We are talking about a 4-party game(mainly a 3-party game as AGCC is not that important) with each party has its own objective and fear. DOJ wants to collect fines, but it also wants US players to get paid, this is why DOJ doesn't wanna see FTP go BK. FTP owners want the players to get paid too to avoid endless lawsuits and get their lives back. Investors want to make money and they probably don't care that much about players. If you treat it as a game, you can analyze it using game theory. Of course we can't solve it with 100% accuracy as we don't know a lot of information. But it is not some unsubstantiated fantasy as you claimed, it is just some very feasible outcome based on game theory analysis.

DoJ already has frozen funds (~$150mm) which they will get if they win or settle their case. Why should they care or give up those frozen funds to pay players?

If you can't realize by now that the FT owners are not interested in putting their profits back in there is something wrong with your powers of reasoning.

It's not a finite situation. If, at some point, FTP owners see that they will lose less money by infusing their personal wealth into the company than they'd have to pay out through the various law suits, then they will consider it. The fact that they haven't expressed a willingness to do it up to this point is not a fair indicator of what they will do as the situation changes.

You don't think their actions up to this point are not a fair indicator of their intentions? What are you smoking?

They could have kept their license and continued to operate non-USA business if they had injected their own funds in a timely manner. Their non-action has resulted in cash flow being reduced to zero and legal expenses to escalate.

Their personal wealth is most likely being secreted, hidden, or being made as judgment-proof as the best attorneys can make it.

Sure there is. Dip in your pockets and pay the buyer.

I think you are making too many assumptions to be so positive in your assertions. That's all I am trying to say. The fact that you think someone has to be high to disagree with you is exactly what I am referring to when I say "so positive".

The problem is that the DoJ is not in the same game.

I thought I called you on this fallacious belief already. Players getting paid is not a DoJ objective. FTP going out of business, at least in the US, is a DoJ objective. It is mostly irrelevant to their policy position whether FTP continues to operate outside the US.

But it seems DOJ is trying its best to get the players paid from various inside sources the mod here has. And as a branch of US　government, this should be part of their responsibilities - to protect US citizens' interest. you make it sound like they are only interested in catching the bad guys and don't care at all about collateral damage. They are like cops. You get a medal if you catch 10 bad guys and get all their money. You probably don't get a medal and will be in some trouble if you hurt 100 innocent people in the process.

Why are you so sure this is true? They already let Stars pay Americans even though they didn't have to. In fact, the very first news to come out of the DOJ in the aftermath of Black Friday was that they had negotiated settlements with the sites to allow them to use their domains to facilitate paying their American customers. When they prosecuted the Neteller guys, they let them pay Americans.

Todd Terry FTW! Yet again! Nice work in all of this Todd.

Can't seem to put my finger on it... I read and re-read the class action complaint but could not find trace of MyWestNook in there. Would you kindly point it to me (page) ? tx.