To date, what happens with FTP? Even those who follow the folder close to lose. For now, the news seem good for the resumption of the site, on the other hand, as mentioned by the Department of Justice (DoJ): "We can not predict the duration of the procedure, other than say it will last many months at least". For his part, Laurent Tapie confirmed these statements: "the path is still long", even if he believes in the potential of FTP and the fact that all players will be able to be reimbursed. According to him, if all goes well, the site could restart in January 2012.
For now, here's what we know:
-Full Tilt Poker has more gaming license
-Full Tilt Poker has more than 300 M$ players across the world
-American justice has before it sufficient funds to repay the players
-The Bernard Tapie group has signed a contract
-The Bernard Tapie group will invest 5-10% of the necessary funds, either 30 M$ maximum in society (as quoted by Agence France Presse).
-Other funds will be provided by partners of the Group
-$128M still have not collected by FTP transfers. When a player makes a deposit on FTP e-check, his account is automatically credited with the deposit amount. On the other hand, there is a delay before that FTP does not collect its funds. 128 M$ is the number of non-collected money by FTP
According to Behnam Dayanim, counsel for Laurent Tapie and quoted by the Wall Street Journal, "the Group would seek new investments from the current owners of the site, who would not be involved in the management of the company". On the other hand, the DoJ will have to agree to keep the owners in question to work with Full Tilt. In other words, players who have funds on FTP would be able to convert their money in % of the shares in Full Tilt Poker. But as we said, this suggestion must have approval of the DoJ and the Exchange Commission.
Speaking of Behnam Dayanim, he met the DoJ on October 3 for preliminary discussions on this matter. According to his own statements, another discussion of the genre with the DoJ will take place shortly. The question of reimbursement of players was still not known issue and therefore, will have to be shelved.
We continue to closely monitor this folder for you.
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