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Full Tilt Poker Takeover Progresses

February 3rd, 2012
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Full Tilt Poker was again in the center of attention this week when several mainstream media outlets reported that the troubled online poker site may have finally concluded an agreement with the United States Justice Department.

According to sources the US DoJ may have finally reached an agreement with Fill Tilt Poker regarding the forfeiture of Full Tilt's assets and the compensation of former US online poker players. It's believed that former US players will most likely not be compensated in full, but so far this issue is just speculation.

According to the supposed agreement, the Justice Department will drop the changes against the companies comprising Full Tilt Poker which would remove all the liability from shareholders. On the other hand, the charges against Full Tilt Poker officials involved in the Black Friday scandal, like Howard Lederer, Chris Ferguson and Ray Bitar will not be changed.

Like in almost all previous instances when information regarding the Full Tilt Poker case were revealed, this time as well the info originates from unofficial sources namely from the comments made by an American lawyer named Jeff Ifrah who is said to be deeply involved in the case.

It's believed that if the issue of the forfeiture of Full Tilt Poker's assets is taken care of in the near future then the French investment group Groupe Bernard Tapie would finally be able to take over the venture.

In December last year Groupe Bernard Tapie representatives explained to the media that they managed to come to an agreement with the US DoJ regarding the takeover of Full Tilt Poker. According to the deal, Full Tilt Poker will have to forfeit its assets to the US DoJ, after which the GBT would be able to acquire Full Tilt from the Justice Department.

The deal also mentioned that the US DoJ will compensate former US Full Tilt Poker players from the money originating from the sale of Full Tilt, and currently uncompensated European players will be compensated by the proprietary funds of the GBT.

Experts believe that if the forfeiture of Full Tilt Poker's assets is completed in the near future, then the GBT may as well re-launch the poker site as soon as it purchases it from the US Justice Department. GBT executive Laurent Tapie explained a few weeks ago that his venture is currently working on the reinstatement of Full Tilt Poker's Alderney gaming license.

Tags: Full Tilt Poker, Black Friday, Full Tilt Poker License Suspension, Full Tilt Poker Takeover, Groupe Bernard Tapie

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