Groupe Bernard Tapie’s lawyer Behnam Dayanim made a statement to PokerStrategy.com that the parties involved have mutually decided to extend the previous deadline and that positive progress had been made with the Full Tilt takeover deal.
GBT has subsequently been investigating the financial inner workings of Full Tilt and have uncovered that several former pros owe large sums of money to the company totaling $16.5 Million. Considering the purchase price of $80 Million, the $16.5 Million in outstanding professional player debts to Full Tilt Poker is significant and could potentially put the deal in serious jeopardy.
To date GBT has been quiet about the deal for the most part, preferring to hold closed meetings keeping issues encountered private, however in this case Groupe Bernard Tapie have made the issue public regarding several pro’s outstanding debts in order to apply pressure to those owing money to the company and possibly to educate the public that those implicated are not all as guilt free as they claim to be regarding players getting their money back from FullTilt.
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Full Tilt Poker looks set to make a comeback deal with Groupe Bernard Tapie taking over command of the once so popular poker room, the deal which has the approval of the DOJ will include paying all outstanding players worldwide that have money suspended in their Full Tilt player accounts.
Although exact details of the deal have not been fully disclosed to date, Managing Director of Groupe Bernard Tapie, Laurent Tapie has confirmed that “payment terms are defined” and that he expects an agreement to be drafted and signed within the next two weeks.
In their statement they said: “Full Tilt Poker will strive to have better communication with its customers going forward”; let’s hope that that part is true as to date their handling of the situation has been abysmal and one wonders if they still carry any value to the online poker world after all they have done or rather haven’t done.
Their rather lame excuse was: “Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.”
The statement went on to try assure customers that their funds were safe: “Full Tilt Poker’s number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers.”