Breaking News - DOJ and GBT Strike Deal, FTP's Future up to Shareholders

Poker Rooms | estimated reading time
2011. November 18.
After <a href="http://www.rakerace.com/news/poker-rooms/bitar-co-resign-green-lights-for-groupe-tapie/"><strong>Ray Bitar's resignation</strong></a> and <em>GBT</em>'s (<em>Groupe Bernard Tapie</em>) <a href="http://www.rakerace.com/news/poker-rooms/groupe-bernard-tapie-settles-with-doj-ftp-sale-pending/"><strong>settlement with the <em>DoJ </em>(<em>Department of Justice</em>)</strong></a>, the <em>Department of Justice</em> finally released the details of their agreement. Only the shareholders have to agree to this, and Full Tilt's reopening alongside with all the payouts can get a green light.
Subject:Poker reported that Full Tilt Poker has released a statement about their current situation.

"Full Tilt Poker is pleased that the terms of the agreement between Groupe Bernard Tapie (GBT) and the Department of Justice have been finalized, and that the agreement provides for GBT to repay or make whole players outside of the United States and provides a mechanism for U.S. players to get repaid. Since Black Friday, repaying customers has been FTP’s number one priority."


FTP - Bernard Tapie

Ray Bitar stated that he is extremely pleased with the efforts of the Department of Justice, and the Groupe Bernard Tapie corporation, and appreciates their continued dedication in working towards a mutually beneficial agreement that will facilitate repayment of the players.

Attorney for GBT, Mr. Behn Dayanim also issued a statement:

"We have an executed letter agreement with the Department of Justice that would allow GBT to purchase the Full Tilt assets from the United States. This is the first step in a process that will require agreement of the Full Tilt companies to the forfeiture of those assets and execution of a definitive agreement with the Department."

Now that Ray Bitar and his fellow leaders Howard Lederer, Chris Ferguson and Rafe Furst had resigned and the DoJ - Groupe Bernard Tapie has struck their deal, it's only up to the Full Tilt Poker shareholders, how this will end. If they agree to the forfeiture of the companies' assets, Full Tilt Poker might get its license, players their money back. If it happens, the Department of Justice will forfeit all of FTP's assets, which the GBT can acquire from the DoJ.

Related articles:


Groupe Bernard Tapie Settles With DoJ, FTP Sale Pending
Bitar & Co Resign, Green Lights for Groupe Tapie

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