FTP Misery to End with French Investors?

Poker Rooms | estimated reading time
2011. September 22. |
According to Subject: Poker, a group of French investors consider buying Full Tilt Poker. If the business is concluded, all funds are guaranteed to be returned to players worldwide.
Only discouraging pieces of news have been surfacing lately about Full Tilt Poker but by Wednesday night, things seem to change. According to Subject: Poker, Full Tilt Poker is about to end its misery by concluding the selling of the company.

Full Tilt Poker

Although FTP attorney Jeff Ifrah has previously asked the court to be relieved as representative of the involved companies and persons, he has now leaked details on the prospective sale of the online poker room. While it would be natural to suspect a fraud here, ‘Diamond Flush’ from Subject: Poker confirms that the statement of intent and the other papers are valid and real.

Based on Ifrah’s information and the letters between the investors, FTP and the AGCC, the situation is as follows:
  • “There is an executed term sheet/letter of intent in place.
  • Ifrah says the funds of the potential investor have been vetted by Full Tilt and the US Department of Justice.
  • The terms say that any purchase agreement would provide funds to allow the repayment of account balances to all Full Tilt Poker players worldwide.
  • The DOJ is aware of this letter of intent and its terms and, in fact, has already received a copy.
  • The investor hopes to include in any deal the settlement of pending DOJ fines, which would, in effect, satisfy the civil complaint now facing Full Tilt Poker and its various companies.
  • The Alderney Gaming Control Commission is aware of the pending deal. They have received specific information about the deal from both Full Tilt and the prospective investors.”
The group of French investors and FTP currently work on the deal to be made within a few weeks’ time. The investors first visited the FTP headquarters in Dublin eight days after the exclusivity period with a former interested party expired.

Despite “there are still many obstacles to overcome,” the situation seems to be brighter than ever in the past few months. Until the business is concluded, however, the investors wish to maintain their incognito. Nevertheless, it has been assumed that only the Partouche group is likely to be able to make such an investment from the French market.

Related articles:
BREAKING NEWS - Full Tilt Poker Leaders Stole Player Funds
Full Tilt Poker vs AGCC - Trial Goes on Today
Full Tilt Poker Statement: Saving €12 Million
FTP's Attorney Jeff Ifrah Resigns
FTP Lawyer Answers – Or Does He?

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