Yesterday was published on Internet email Laurent Tapie sent to employees targets in Full Tilt Poker a few hours before the publication of the official communiqué issued in the media. To read (or reread this release, see official release group Bernard Tapie on redemption of FTP. )
In this e-mail, Laurent talks about such a project with PokerStrategy. In the words of Laurent: "I am also in negotiations with Poker Strategy to resuscitate an affiliate arrangement similar to the one I was with FTP."
Here, for those interested, the translation of the e-mail posted on DiamondFlushPoker:
"Considering the work that we have done together to restart FTP during the last 7 months, I think it is my duty to inform you about the current situation, and my plan, before the publication of our press release in the next few hours.
The agreement with the DoJ is null and void and the negotiations are completed. Ultimately the DoJ refused the proposal of the Bernard Tapie group for reimbursement of players outside the United States, a proposal which we thought had been accepted. The DoJ has informed our Attorney that the only acceptable agreement would have been the reimbursement of $184 million players within 90 days.
What clearly made the deal unworkable and I think that person would have accepted these terms.
I continue to believe that our proposal for reimbursement was fair. We have made available the bankrolls of players so that they can again from the launch of the site. In addition, we could repay 94.9% of the players on the first day, 4.9% over 18 months and only 0.2% over a period of more than 18 months with a maximum of 5 years for big accounts. In addition we had accepted a request from the DoJ that was to allow US players to fill a petition asking for compensation and we had also agreed to reimburse all players who have not been done by the DoJ.
According to the last report of a person of the Finance Department, Pocker Kings had enough money to pay salaries for the month of April, but not may.
In consequence, as an alternative to purchase, I proposed to Ray Bitar to temporary license in order to revive the site, to preserve the value of the assets and to participate in a possible auction in the future.
Ray requested the agreement of the DoJ for validation. My own understanding of the situation was different: I thought that, since the companies were in insolvency, as legal representative, Ray would have immediately accepted this offer of licence that was the only offer concrete to preserve jobs, money, and the value of the assets of the undertakings. In addition, the DoJ is not the owner of the assets until it decides (if he decides one day) confiscated.
But Ray stayed on its position arguing that it should have the agreement of the DoJ.
We have therefore made this offer to the DoJ, but despite our efforts, and no surprise on my part, the DoJ has remained impassive and April 20 reaffirmed that his decision was final and that no licence agreement would be accepted. It is at this time that the negotiations have been terminated.
I met Ray Bitar last Friday and suggested he declare his insolvent company in all countries where it was present and to inform its employees that it could no longer guarantee their jobs.
Considering the fact that it doesn't take no decision without seeking the agreement of the DoJ for 7 months, I do not know if he did or if he will do it.
But from my side, I am not prepared to accept having lost 7 months of work, to see 200 people lose their job and be witness to the non-repayment of the former Full Tilt players.
For this reason, I decided to devote a significant portion of the funds that I was planning to use for the acquisition of the assets of Full Tilt to the launch of my own company under the auspices of Game Cubed, the company that I created in Ireland. I would only do it if I can draw all the Pocket Kings key staff. With your help and your expertise, we will launch a new Web site that will be the best market in the 6-7 months.
I know that such an approach requires a leap of faith here so my offer: starting May 1, I'm going to engage all key personnel in Pocket Kings - each with between you - your current salary and your earned benefits intact. I also put in place of the stock options in this new society.
We will develop a new platform of poker based on your knowledge and restart all under a new brand with an offer to former Full Tilt poker players allowing them to recover their bankroll if they come play on our site, as we anticipated in our initial agreement with the DOJ.
I have the money to do everything and I work with the AGCC to obtain a licence and their help for a repayment plan.
I'm also negotiating with Poker Strategy to re-launch an affiliate system similar to what they had with Full Tilt.
In order to make all this possible, I need your commitment at all very quickly. I'm sorry you put pressure, but the timing is very tight if it works. I need to know if I can count on enough people before the end of this week to advance.
If this is the case, I host a meeting in Paris with 5-10 people key at the end of this week. We take in charge your transport and accommodation.
I look forward to working with you to build the best poker site that may exist.
Laurent Tapie - Director General - BLT development»
Following this "leakage" of e-mail, PokerStrategy has reacted. Here is their press release:
"Due to the recent publication of an e-mail of Laurent Tapie to stakeholders and employees Pocket Kings, PokerStrategy key can confirm that representatives of our company have already met the Bernard Tapie group and staff at Full Tilt Poker in Dublin to discuss potential partnerships, and initiatives for strengthening of liquidity to revive, Full Tilt Poker."
Before its closure in June 2011, Full Tilt Poker has been a major trading partner of PokerStrategy.com, with more than 30% of active Full Tilt Poker players with the origin website. As such, a large number of our members are currently unable to access the bankrolls they held on Full Tilt Poker. Even if we were only in preliminary stages of discussions, we had hoped to contribute to a revival of Full Tilt Poker which would have allowed the repayment of balances of the players and the elimination of possible future cash-flow problems.
We, frequently considered PokerStrategy the possibilities of partnership of a variety of poker whose ultimate purpose rooms is added value for our users. Since their discussions with the DoJ have failed, our conversations with GBT has been limited and we are not aware of their actual plans to create a stand-alone site."
Discuss the latest information about Full Tilt Poker on our forums: Full Tilt Poker: an email from Laurent Tapie making chat
