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Old 06-10-2012, 10:05 PM   #126
Heisenberg1
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

oft
Omg Gerv your avatar is awesome! I want one of my own!
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Old 06-11-2012, 07:26 AM   #127
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by flash237 View Post
What if we all wrote letters to the nevada gaming commission suggesting they deny IGT's licence application? IGT owns the entraction network and is a 5billion dollar US public company. They allowed purple lounge to steal from us and have also taken no responsibility. Not the kind of network I think should be getting a US license.

If they felt there was a chance their license was in jeopardy maybe they would step up and do the right thing.
can someone setup a letter so we can copy it all?
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Old 06-16-2012, 01:24 AM   #128
eliwallach
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Does anyone have new information about this $hit? LGA haven't responded anything for me.
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Old 06-17-2012, 03:41 AM   #129
bedriga
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

No response from the LGA here either. I sent another e-mail this week.

There are not many updates. This is the last post in the Casinomeister thread: http://www.casinomeister.com/forums/...tml#post493987

On July 5th there is a General Meeting of the MediaCorp shareholders. Players living nearby could buy some shares to be allowed to attend the meeting.

Probably after this meeting they will mainly focus on launching Intabet, which is a sports betting product. The fact that Purple Lounge players were not paid does not seem to be a great threat to their their business plans...

Pretty much industry standard scenario!
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Old 06-19-2012, 09:31 PM   #130
moving shapes
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

has the liquidator been appointed yet?
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Old 06-20-2012, 01:18 PM   #131
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by xPeru View Post
When you deposit money on a poker site, the legal ownership of the money passes to the site.
Sorry for the slight off topic but I'd be interested in hearing more about this. Any links appreciated.
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Old 06-20-2012, 02:01 PM   #132
BlackStar9
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by therealjohnny416 View Post
Level complete.
smoothest completion ive ever witnessed
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Old 06-20-2012, 03:30 PM   #133
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

I haven't heard from LGA either (send two e-mails). What do these clowns do, exactly?
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Old 06-20-2012, 07:09 PM   #134
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by flash237 View Post
What if we all wrote letters to the nevada gaming commission suggesting they deny IGT's licence application? IGT owns the entraction network and is a 5billion dollar US public company. They allowed purple lounge to steal from us and have also taken no responsibility. Not the kind of network I think should be getting a US license.

If they felt there was a chance their license was in jeopardy maybe they would step up and do the right thing.
I was planning on attending the NGC meeting tomorrow anyway.

However, there is ZERO chance the IGT online gaming application will not be favorably acted on by the Commission. Nor should it even be delayed. This is a time to educate and discuss the issues, not foolishly try and threaten someone who "could" be of assistance.

(As generally happens, no one hurt by this lapse by Entraction stepped up to represent aggrieved poker players in this matter, despite an opening to at least perhaps get IGT on record as to their responsibility or not for past operation by Entraction of their purchased Network, outside Nevada.)

The opportunity to approach IGT in a regulatory context is not lost forever, however. IGT is up for approval as a manufacturer and should be approved; there will be an opportunity to comment later on appropriate rules to operate a poker network, a new concept for Nevada.

This is especially so where a network might face player liability/integrity claims arising from the conduct by non-Nevada skins it supports.

I would be willing to consider work on that angle, of lobbying for rules ensuring network liability for skins' players, ..... but not for free.

pm me if you want to discuss this matter.
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Old 06-21-2012, 12:23 AM   #135
xPeru
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by pasita View Post
Sorry for the slight off topic but I'd be interested in hearing more about this. Any links appreciated.
From Wiki about bank deposit accounts, but the same legal situation holds for accounts with a poker site:

http://en.wikipedia.org/wiki/Deposit_account

"In the audited financial statements of the bank, on the balance sheet, the $100 in currency would be shown as an asset of the bank on the left side of the balance sheet, and the deposit account would be shown as a liability owed by the bank to its customer, on the right side of the balance sheet. The bank's financial statement reflects the economic substance of the transaction—which is the bank has actually borrowed $100 from its depositor and has contractually obliged itself to repay the customer according to the terms of the demand deposit account agreement. To offset this deposit liability, the bank now owns the actual, physical funds deposited, and shows those funds as an asset of the bank."

PokerStars explicitly states in its T&Cs:

"10.10. You acknowledge and agree that monies deposited by you in your PokerStars account are held in a trust account on your behalf."

Money in a Trust account is owned by the Trust. The trust must follow legal rules in disbursing monies.

NB This is 100x better than most poker sites which don't hold your money in a trust. Even those which "segregate" funds, simply mean that they put them in a different bank account. Segregation of funds doesn't imply that they are protected against depredations. AFAIK only PokerStars actually hands over legal control of funds to a 3rd party to ensure that player funds are not misused by the business.
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Old 07-07-2012, 03:03 PM   #136
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Hello everyone

I have spoken to Lawyer and he told me this,

Make letter to FSA http://www.fsa.gov.uk/ that should start inquiry, if that dont help players should go together and get lawyer againts Media Corp, because Media Corp is responsible of Purple Lounge.
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Old 07-08-2012, 12:48 PM   #137
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Hey guys,

I am creating a skype group to group players with money PL and to discuss further action.

PM me your Skype name if you want in.
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Old 07-08-2012, 03:13 PM   #138
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by NextPlz View Post
Hello everyone

I have spoken to Lawyer and he told me this,

Make letter to FSA http://www.fsa.gov.uk/ that should start inquiry, if that dont help players should go together and get lawyer againts Media Corp, because Media Corp is responsible of Purple Lounge.
I don't think the FSA cover gambling with the exception of financal spread betting.
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Old 07-09-2012, 07:46 AM   #139
bedriga
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

http://www.london-gazette.co.uk/issu...ings-creditors

The liquidator of Purple Lounge LTD has been appointed!
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Old 07-09-2012, 10:28 AM   #140
NextPlz
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by bedriga View Post
http://www.london-gazette.co.uk/issu...ings-creditors

The liquidator of Purple Lounge LTD has been appointed!
This is great news!
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Old 07-09-2012, 10:35 AM   #141
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by NextPlz View Post
This is great news!
hey..whats your skype? you can post it here then delete after I added you
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Old 07-10-2012, 09:46 AM   #142
andrutt
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

add me too,
my skype: zakowski31
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Old 07-10-2012, 10:06 AM   #143
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

I'm glad you're being proactive about this for all of us man... Skype name PMed.
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Old 07-10-2012, 05:01 PM   #144
Zendo
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by bedriga View Post
Quote:
...a meeting of the creditors of the above named company will be held at The Clock House, 140 London Road, Guildford, Surrey GU1 1UW on 23 July 2012 at 10.30 am...
As far as I know, players with outstanding balances, affiliates too, are creditors.
Quote:
A full list of the names and addresses of the company’s creditors may be examined free of charge at the offices of Baker Tilly Restructuring and Recovery LLP, The Clock House, 140 London Road, Guildford, Surrey GU1 1UW between 10.00 am and 4.00 pm on the two business days prior to the day of the meeting.
Secured creditors have to be paid first before creditors, if someone goes to see the full list of names we could see if there is any chance we will see any of the money owed.

Please post if you are able to go to either the viewing of the company's creditors or the meeting itself.
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Old 07-11-2012, 05:37 AM   #145
bedriga
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by Zendo View Post
As far as I know, players with outstanding balances, affiliates too, are creditors.
There is a contact person mentioned in that notification. Has anybody bothered to call and ask for details? If you have money in there, STOP looking for others to do the legwork for you! Do you honestly think that someone will contact you and say "let me give you your money back"?

The thing is Media Corp has only appointed a liquidator for Purple Lounge Ltd, which apparently has nothing to do with player funds. Players are NOT on the creditors' list for this company.

There is another company, probably Purple Lounge Malta, which is responsible for player balances.

Media Corp is mainly focused on launching another gambling site, Intabet. Paying Purple Lounge players does not rank very high in their priorities list!
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Old 07-11-2012, 07:13 AM   #146
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Stars....it's all about Stars.

Before you deposit your mannies, take a look at the agreements in place when you check the little box.
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Old 07-12-2012, 05:12 AM   #147
like_the_magazine
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Skype name PMed.
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Old 07-12-2012, 12:43 PM   #148
SPeed_FANat1c
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Quote:
Originally Posted by HUHandEH View Post
Stars....it's all about Stars.

Before you deposit your mannies, take a look at the agreements in place when you check the little box.
And what can you change? I don't read them carefully but I assume more or less all sites have the same agreements. Ok, stars maybe is better choise, but to play if not the best, unless you are mass multitabler and need good soft and traffic
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Old 07-12-2012, 03:01 PM   #149
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

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Originally Posted by NextPlz View Post
This is great news!
I'm not sure this is Purple Lounge (Malta) Ltd though and think Purple Lounge Ltd may just be the management company. Best to check with the liquidator first if you are thinking about attending.

I have a bad feeling they are liquidating the management company only and trying to hide the players debts in the Malta arm for as long as possible. Hopefully teh liquidator can clear that one up for you guys.
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Old 07-12-2012, 07:34 PM   #150
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Re: Purple Lounge to be Liquidated, Parent Company Washes Hands of Responsibility to Pay Player

Who is Media Corp ? Is it based in or related to Singapore ?
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