Full Tilt Sell Moving Forward

The Full Tilt saga has moved a little closer to conclusion with Full Tilt agreeing to have its assets transferred to Groupe Bernard Tapie.

From the Subject: Poker website:

This was the next step in the complicated process of transferring Full Tilt assets (by way of the US Department of Justice) to Groupe Bernard Tapie. It follows the November 17th agreement between DOJ and GBT that allows GBT to purchase forfeited FTP assets from the DOJ, likely via the, Asset Forfieture Fund for an agreed-upon price of $80 million.  In return, GBT also agrees to repay or otherwise make whole non-US players, who are owed over $150 million. When the forfeiture of the assets is complete, the DOJ has agreed to dismiss the civil complaints for forfeiture against the FTP companies.  The DOJ would also be responsible for Full Tilt’s liability to US players, which is also estimated to be about $150 million.

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