Shyam,
In the
Official Statement Stars made upon acquiring the assets of FTP, the following statement was made:
Quote:
PokerStars will also make available in a segregated bank account, all outstanding balances owing to all non-U.S. customers of Full Tilt Poker (an amount totalling USD$184 million), with no restrictions on withdrawals, within 90 days of completing this transaction.
A significant number of players requested cashouts prior to FTP going offline, and never received their money. Some have worthless cheques from payment processors that cannot be cashed, some simply never received electronic transfers. It seems likely that FTP never actually paid some processors for these transactions, so the money never actually left these players' accounts. Yet your company appears to be refusing to honour these amounts, and there is a clear danger that many of these pending cashouts will be lost forever as processors refuse to honour them and the new FTP refuse to acknowledge the debt. US players are at least able to include their missing cashout information in their remission applications to the DOJ, but ROW players were led to believe that the new owners would make them whole, and they reasonably assumed that unreceived cashout requests would be included in this commitment.
Are you going to clarify FTP's position on unreceived cashouts? Failure to make these players whole seems a clear failure to comply with your agreement with the DOJ, unless the DOJ was fully aware of the amounts involved and specifically excluded them from the agreement. At the very least, you ought to be as co-operative as possible in assisting these players in their attempts to contact the relevant processors, and provide as much information as possible to this end.