Full Tilt Poker and US DOJ Reach Deal Regarding Black Friday Civil Suit

It seems that the Full Tilt Poker sale may go off after all.  In a breaking story on Tuesday on SubjectPoker.com, it was reported that the United States Department of Justice and the Groupe Bernard Tapie have come to an agreement regarding a settlement in the Black Friday civil matter.

Full Tilt and the DOJ may have settled in the Black Friday civil case.

In an email sent by Ray Bitar to Full Tilt Poker shareholders, Bitar said the following,

Dear members,

I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising FullTiltPoker. My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time.

With DoJ’s consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP.  That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure  the terms of that proposed agreement will be shared with the membership and voted on.

-Ray

According to the article, the Groupe Bernard Tapie will repay amounts due by Full Tilt Poker to players worldwide while players in the United States must go through the DOJ in order to receive payments.  In addition, no details regarding any settlement has been announced.

So far, only Subject Poker has reported on this story.  Full Tilt and Groupe Bernard Tapie have yet to comment.  If reports are true, it would be the first positive steps toward player repayment since the April 15th debacle.

As always, we will keep you updated on this story as it develops.

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