Full Tilt Shareholders Forfeit Assets

 Yet another interesting development has been made in Full Tilt Poker’s online gaming saga. After news broke that Groupe Bernard Tapie was in the processing for applying for a Spanish online gambling license, GBT announced that Full Tilt Poker shareholders would have to hand over their assets to the American Department of Justice.

According to reports, several shareholders had agreed to this deal. It came as part of the agreement made between the Department of Justice and Groupe Bernard Tapie. In return for the transfer of the shares, the DoJ will drop civil complaints filed against Full Tilt Poker. Complaints filed against individuals, such as Raymond Bitar, will still stand.

Shares will be distributed once the site is back in operation. The current owners Full Tilt Poker will be limited to purchasing a small portion of shares and will only be allowed to act as ‘passive’ owners.

Now, all that seems to be left is the repayment of online poker players. The Department of Justice will oversee refunds made to American players, while Groupe Bernard Tapie will handle refunds for players throughout the rest of the world. While the process is likely to be long and complex, players are simply happy to see that progress is being made. 

 

 

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