FTP Players to be Paid Based on BF Account Balances. Claims to Begin September 16th

WVHillbilly

WVHillbilly

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Good news today from the FTP Claims Administrator: http://fulltiltpokerclaims.com/

My favorite part of the announcement:
It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players' final balances with FTP as of April 15, 2011 (the "FTP Account Balances"). The claims process will begin shortly.

Update:

Important Update About the Start of the Claims Process
Starting on September 16, 2013, GCG will email a Notice with instructions on how to submit a Petition for Remission online to all potentially eligible claimants identified by GCG utilizing data supplied by Full Tilt Poker (“FTP”). The deadline to submit a Petition for Remission is November 15, 2013. Instructions concerning the filing of Petitions will be included in the Notice and will be posted on this website. Please continue to check this website for updates. Please note that the registration process for email notification is no longer available.

GCG, working with the Asset Forfeiture Unit of the United States Attorney’s Office for the Southern District of New York and the Asset Forfeiture and Money Laundering Section of the United States Department of Justice, has completed the review of data provided by FTP. It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players’ final balances with FTP as of April 15, 2011 (the “FTP Account Balances”). Account balances from online poker sites other than FTP are not included in this remission process. Petitioners must also meet all other requirements outlined in 28 C.F.R. § 9.8 to be considered eligible for remission.

If you do not receive an email notice and you believe you are eligible to participate in the remission process, you may file a claim online using the directions that will be provided on this website.

If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.
 
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Debi

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So glad they are doing it that way. I would have been okay I think but joe would have lost all of his if it was based on deposits.
 
WVHillbilly

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For me it's a difference of about $6500 so I'm thrilled they're not doing it based on deposits!
 
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millertime

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if i have a deposit history, can i try to reclaim the money on my deposits since i had a $0 at the time of shutdown???

probably ~$2k
 
Debi

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if i have a deposit history, can i try to reclaim the money on my deposits since i had a $0 at the time of shutdown???

probably ~$2k

No - you must have lost your $2k. It stays lost. :p
 
okeedokalee

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Fantastic news for you U.S. players, hope that may mean you will all be back with us at FTP soon.Miss you guys on the tables.Congratulations getting back what was owing. :thrasher:
 
Maid Marian

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I'll be happy to get my money back but, for now, I won't count my chickens before they hatch. :eek:
 
V

vic75

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Very good news for all players involved and good that pokerstars bought Fulltilt
 
Zorba

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Who ends up keeping all the interest that all those balances made after BF.

Good to see that you guys are getting your $$$ back.



.
 
jazzaxe

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It has been so long I can't remember the exact amount. Is there a way to verify?
 
lightning36

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By my calculations, we should start seeing money in 2019.:D
 
LarkMarlow

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It has been so long I can't remember the exact amount. Is there a way to verify?

I captured a screenshot of my balance on Black Friday before they closed the doors. I don't know of any other way, unless they kept all the records.
 
curtinsea

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I captured a screenshot of my balance on Black Friday before they closed the doors. I don't know of any other way, unless they kept all the records.

you can request it from FullTilt.

You will need to load the FullTilt poker client; login and click the >Request< drop menu & select >Account History< drop down.
 
blackplanet

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This is crazy they are just paying the players now. I'd hate to be the one picking up the phone for those sick complaints.. How long has it been since ftp stopped in usa anyways?
 
curtinsea

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This is crazy they are just paying the players now. I'd hate to be the one picking up the phone for those sick complaints.. How long has it been since ftp stopped in usa anyways?

oh no, we are nowhere near paying players. Just getting the ball rolling. This process will take at least one more full year, perhaps more
 
WEC

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Great news for all those poor players who have had their money tied up for so long by these POS's

I won't mind finally getting my measly $100 also
 
robhimself

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Don't even remember what I had in there, but I want it nowwwwwwwww :p
 
ChronicFish

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does this also mean pokerstars will allow US players?
 
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rhombus

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What happens to all the people towards the end who were depositing monies but nothing came out of their bank accounts.

Will they be liable to pay it back LOL
 
curtinsea

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What happens to all the people towards the end who were depositing monies but nothing came out of their bank accounts.

Will they be liable to pay it back LOL

I don't see how. Those people were merely saved from being scammed by FTP and becoming victims themselves.
 
italiano

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WVHillbilly
It's the least they can do to return the money the problem was theirs! I like the fact that I now belong to star ftp seems much more serious!
 
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