Full Tilt Poker Hearing

Think I will pop along and see what's going on:

http://uk.pokernews.com/news/2011/07...ondon-6877.htm

Yeah I also wrote this one.
Will be an interesting day for online-poker I guess.
Hope it will be a positive day for all who have a BR at Fulltilt

Hope this too, cant wait to get that money back :P

@pokerman27 Bring here as much information as you can, I trust you
PD: Good news only, plz ¬.¬

This is really interesting. Why hold a public hearing? If this works, it will bring more press exposure to this topic (possibly some U.S. exposure as well) which never hurts. Are they going to be taking questions/comments from the crowd?

yes this is interesting.. I hope they make it back so i can get my money.... but i am a usa person that they didn't send us are money....

Guys, there is a petition that is doing the rounds on www.FullTiltScrewed.me which is being handed to the AGCC hearing. It cites the regulations under which the AGCC must ensure it's licensees comply with returning player funds.
The more support and pressure received and applied then the AGCC must make this the priority before even contemplating a resctructure of Full Tilt.
Please sign the petition and share with friends as this is simply unnacceptable.
I hope the mods bear in mind the sensitive nature of this issue and allow me to post this link. Good luck us.
Best regards

Signed the petition, lol @ the set up of the page.

Doesn't sound like anything new is happening. But I still have hope I will see my $900

It looks like we'll be waiting until the hearing date to find out any news. At least that fits into the timeline of the Euro investors' due diligence (at least as set out in the press releases -- though I thought three weeks was cutting it pretty thin to perform adequate due diligence for such a major acquisition).

They have confirmed that it will be a public meeting. When the meeting was originally announced I believe that was not clarified.

fingeres crossed

I really hope it will be a positive day!
I'm not from US, but I was waiting for a pending cash out when their lost their license. I can't wait to get my money back!

The agcc have taken a short break to consider and application by FTP reps to postpone the hearing, and have it held privately.

Hearing delayed so that it can be done privately. Waste of time.

Basically it doesnt seem like any miracles will occur in the immediate future it should be a long drawn out affair.

With lawyers & millions of dollars involved - really?

Couldn't they have filed that motion in advance?

IMO, a private hearing is better for all involved, IF there is in fact a possible investor, which is likely true since the AGCC has confirmed it. Knowing what we know about FTP, the more of their dirty laundry that gets aired to the public, the less likely any deal will happen.

Edit:

So what does this mean people!?

I haven't played in a while.. trued logging in other day and noticed it was off.. tried again today and knew something must be wrong, what has exactly happened?? haha

If you are being serious, use the search feature and type in Full Tilt, or google.

http://www.bluffeurope.com/poker-new...est_10876.aspx

oh well
drumming fingers

While that's true there's also millions of dollars being lost the longer the site has to stay shut down so it's not unreasonable to think that Full Tilt would want this resolved in a reasonably short time frame so they can go back to making money.

A short time frame obviously isn't what we're going to get though...

I was optimistic that there would be some progress yesterday. Now, it looks like it's going to be a while, if ever, before I see any FT money. If poker's ever legalized in US, I think I'll be sticking with PS even though I enjoyed playing at FT. I don't trust FT or UB with another dime of my money.

The longer this drags out the less likely a happy ending

Same here...don't trust FT at all after all that has occurred. PS is okay... but I've been hooked on the rake free rooms recently.

Full Tilt did NOT pay their $410,000 licence fees until it was suggested they do by the Alderney Gambling Control Commission...


Full Tilt Poker at the hearings on 26th July explained that the reason the fee’s weren’t paid in full related to Full Tilt’s expectation that the AGCC did not have any intention of reinstating it’s licence.


Full Tilt Poker

On 15th April 2011, the US Attorney for the Southern District of New York and the Assistant-Director-in-Charge of the New York Field Office of the FBI announced the unsealing of an indictment against 11 individuals, including some connected to Full Tilt Poker (“FTP”), alleging bank fraud, money laundering and illegal gambling offences. The AGCC, which licenses FTP, began immediate discussions with FTP’s management in order to protect the interests of players.

As a result of the AGCC’s investigations the decision was taken on 29th June 2011 to suspend the licences of the companies collectively trading as FTP. The AGCC has also imposed a condition that requires the licensees comprising FTP to arrange for the ring-fencing of identified players’ funds under their control.

On the 26th July 2011, the AGCC held a public hearing to consider allegations arising from the investigation. At the hearing the Commissioners of the AGCC, acting as a tribunal, decided to adjourn the hearing to a date no later than 15th September, as they felt that this was in the best interest of the players using FTP’s services.

The recent payment of overdue licence fees by FTP is also in players’ best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal.

Further details regarding the exact date and venue of the next hearing will be announced as soon as possible.



http://www.gamblingcontrol.org/

Reported yesterday that Full Tilt laid off it's American Employers, Not a good sign that Tilt will be back in USA and seems to go along with the Euro Investors looking for that market only
See link

Full Tilt poker forums are back up. No idea what this means if anything.

Full tilt and PS won't be back in US. I'ma stick to carbon anyway.

That's pretty obvious though - of course it's the rest of the world market (don't forget, there are other places in the world aside from the USA and Europe and online poker is legal in pretty much all of them) the investors are interested in, nobody has any reasonable expectation that Full Tilt will be back in the US market in the short to medium term.

That has nothing whatsoever to do with US players getting paid though.

fingers crossed*** i still got ten bones on there

[/quote]That has nothing whatsoever to do with US players getting paid though.[/quote]

If Full Tilt didn't expect to get their licence back after the investigation then no one in the world should hold their breath waiting for any cash.

I have no idea if there's any credibility to this story:

http://www.businesswire.com/news/hom...-Reaching-Deal

August 12, 2011 11:16 AM Eastern Daylight Time
Canadian-poker.ca: Full Tilt Poker May Be Close to Reaching a Deal with Investors; Pokerstars Absent from Online Poker Negotiations

Online poker room PokerStars is back online in Canada, but Full Tilt Poker is yet to close a deal with potential investors, Canadian-poker.ca reports.

MONTREAL--(BUSINESS WIRE)--Canadian-poker.ca (http://www.canadian-poker.ca) reports that Full Tilt Poker, the online poker room notoriously shut down in America and worldwide, has taken its first step toward repaying players by finally paying off a $250,000 debt to its licensors. The source for this money is unknown, though Canadian-poker.ca spokesman Leon Daniels predicts that it may mean potential investors in Full Tilt, including 888 Poker, Bwin.Party and Playtech, could be closer than ever to reaching a deal.

“With Full Tilt Poker’s finances finally looking better, it doesn’t mean the site will be back online soon, and we at Canadian-poker.ca will continue to recommend our players choose 888 Poker as the preferred online poker room.”

“I’ve mentioned before why companies like 888 would be interested in purchasing Full Tilt Poker. 888 has one of the biggest http://www.canadian-poker.ca/888-poker.

”I don’t believe PokerStars, formerly a huge presence in the online poker world, is a potential investor. Black Friday and subsequent investigations seem to have PokerStars’ hands full at the moment,” Daniels explained. ”While they’re faring better than Full Tilt by far, they still have to deal with the authorities,” he said.

Daniels continued to say that Party Poker, another potential Full Tilt investor, is also in the same league in terms of appealing to Canadian online poker players. “However,” he said, “Party Poker, who recently merged with Bwin Poker, already has a substantial share of the Canadian market, so it might be of less interest to them.”

Daniels added, “With Full Tilt Poker’s finances finally looking better, it doesn’t mean the site will be back online soon, and we at Canadian-poker.ca will continue to recommend our players choose 888 Poker as the preferred online poker room.”

FWIW multiple seemingly-credible sources (certainly ones that sound far more credible than that shillfest) have reported that the investor Full Tilt is in exclusive negotiations with has no prior involvement in online gaming. So it's almost certainly NOT 888.

I've taken some time off playing poker and was REALLY hoping that Full Tilt was going to pay it's U.S players by the time I came back ready to play. Looks like I will probably hit the Lotto before they pay.