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[rrickir]

2011-10-04 01:23:00

Groupe Bernard Tapie Meets With DoJ





Earlier today, the Wall Street Journal published an article titled "Full Tilt Rescue May Give Stake to Customers". (link below)

The article, which was penned by Alexandra Berzon and Max Colchester, contained a couple of interesting nuggets of information.

One of the revelations? Players who are owed the most money by Full Tilt Poker may be offered equity stakes.

From the WSJ:

"Behnam Dayanim, an attorney for Laurent Tapie, said the family would be prepared to take control of Full Tilt. Mr. Dayanim said it hasn't been determined how large an investment or stake Groupe Bernard Tapie would make. He confirmed the Tapies may address Full Tilt's liabilities by offering equity in a revived company to poker players owed the most money."

Another interesting tidbit of information - Groupe Bernard Tapie is apparently going to call upon the site's existing owners to kick in some cash:

"The family is also seeking new investment from the site's existing owners, who wouldn't be involved in managing the company, he said. The Justice Department would have to agree to allow these owners to continue with the company, two people familiar with the negotiations said."

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According to the article, an attorney representing Groupe Bernard Tapie met with DoJ officials on Monday afternoon. A successful resolution of the US government's civil suit against Full Tilt Poker is required before any deal can go through.

Groupe Bernard Tapie is also conducting due diligence on Full Tilt's "financial state", and this process is apparently ongoing. On top of that, the company would need to secure a license in order for Full Tilt Poker to resume operations.

Not to be pessimistic, but it certainly seems as though there are a raft of issues that could possibly derail any sale to Groupe Bernard Tapie.

Source: WSJ.com - Full Tilt Rescue May Give Stake to Customers

Note: Search for Article Title in Google News To Read Entire Article


Filed Under: Poker Room News

[pokerpiglet]

any news on that front is somewhat good if it means gettin our money back

[Tiarra]

I just don't see the value in this. Don't get me wrong, I like everyone else would like to see my money again, but is this really going to be more profitable than just starting up a new poker room? Yes, you have some great software, but that's it. Your name is trash in the industry, and you start half a billion dollars in the hole. Something here doesn't add up.

[bmeelneg]

from the article

"Not to be pessimistic, but it certainly seems as though there are a raft of issues that could possibly derail any sale to Groupe Bernard Tapie. "

^^ raft??? how about aircraft carrier ^^

[scalzo]

we miss tilt, i know i speak for a lot of online gamers out there.

[AryAlton]

We dont really miss full tilt, we just miss our money.

[don7238]

I didn't really like fulltilt and didn't have any money there so i really don't care

[pokerpiglet]

actually hope something good comes out of this mess
like honest sites were u can get ur money fast

[joshtheking]

me 2 hope it works out!

[royalpat]

actually hope something good comes out of this mess
like honest sites were u can get ur money fast

u hit the nail on the head I agree