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Any truth to this story about FT reopening 1st March?

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  1. Marky_Crash Marky_Crash is offline

    United Kingdom

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    Feb 7th, 2012 (2/7/2012 11:54pm)

    Sorry if this is a repost ..

    http://www.tightpoker.com/news/full-...ted-soon-3203/

    Article seemed a bit sketchy so wasn't sure what to make of it.
     
  2. willy_bolda willy_bolda is offline

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    Feb 7th, 2012 (2/7/2012 11:58pm) in reply to Marky_Crash

    Would be nice if it was but I wont get my hopes up til I hear it from a few more reputable sources!
  3. Marky_Crash Marky_Crash is offline

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    Feb 8th, 2012 (2/8/2012 12:09am) in reply to willy_bolda

    The fact the story's source seemed to be "according to latest news" didn't fill me with hope and it seemed to ramble on about general stuff from BF.

    The date stated for reopening was pretty specific though and headline seemed to the point and it was posted on Sunday.

    Doesn't address any of the problems that have arose over the last week or so though.
     
    Thread Starter
  4. PeaceGotAces PeaceGotAces is offline

    Halifax
    Canada

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    Feb 8th, 2012 (2/8/2012 12:12am) in reply to Marky_Crash

    If there was a re opening date set for march 2+2 would blow up. I've been checking every day since FT went down. I wouldn't believe this.
  5. iamthedeck ftw iamthedeck ftw is offline

    Windsor
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    Feb 8th, 2012 (2/8/2012 1:23am) in reply to PeaceGotAces

    tightpoker.com, you heard it there first
     
  6. MarkFSU1 MarkFSU1 is offline

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    Feb 8th, 2012 (2/8/2012 1:51am) in reply to iamthedeck ftw

    its not correct, but I believe it really is nearing the end one way or the other very soon. Everything is pretty much done with. Tapie has several issues he wants ironed out first before pulling the trigger (one is that old FTP pros owing $16.5M to the site pay up which the majority dont seem to want to do currently and this seems to be the most major issue). Either way it seems the deadline is fast approaching for him one way or the other, the DOJ deal for 80M is the what tightpoker is referring to ends at the end of February, so Tapie has to either say yes or no by then (i guess extensions could be granted but currently this is the deadline).


    FYI these were the other 3 issues as quoted by Tapie/Tapie's lawyer (as said earier these 3 issues seem to be things Tapie has accepted and seems to have a plan to deal with or isnt too concerned with, the 19 FTP pros not repaying loans they took seems to be the last stumbling block to this deal being finished):

    A major miscalculation on the amount of money in the corporate accounts of FTP, previously reported in many poker media as somewhere between 35-40 million dollars. Full Tilt insiders who have proven to be on the money in the past, say the amount actually in FTP coffers is less than 20 million dollars.

    A significant miscalculation in the level of interest on the part of passive FTP shareholders in taking shares in the new company. According to two shareholders, confidence in the brand under Tapie has dissipated in part as a result of the extended time the company effectively has been out of business. The dollar amount Tapie originally anticipated is not known but loose guesstimate by generally informed sources rises to eight figures.

    Creditors’ rights-- apart from player’s claims which are resolved in the GBT-DOJ-FTP approved agreement—are unclear. European lawyers familiar with FTP debts to vendors and service providers indicate there is “good and sufficient reason” for Tapie to be worried about liabilities for millions of dollars of claims outside player refunds. The consensus among lawyers queried for this article is that Tapie has recently figured out that he has a significant exposure—perhaps in the range of 15 million dollars or more in creditor claims that are probably viable in Europe.
    Edited By: MarkFSU1 Feb 8th, 2012 at 01:59 AM
     
  7. Salamander0 Salamander0 is offline

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    Feb 8th, 2012 (2/8/2012 3:03am) in reply to MarkFSU1

    nah, right now we are waiting to see which ftp pros will pay back the 16millish they owe.

    but my sources say ftp will be back in April tho. my sources are a few extra dimensional aliens that i was hanging out with the other night smoking some space weed. they dont experience time in a linear way like we do so they were able to see when ftp will open up in most possible realities, which is April. Altho at one point one of them told me there was something on my shirt and when i looked down he flicked me in the chin so maybe they were just fuckin with me.
     
  8. BCPEA BCPEA is offline

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    Feb 8th, 2012 (2/8/2012 3:10am) in reply to Salamander0

    Why would anyone give them business ever again? Plenty of standup sites out there.
  9. 2JL 2JL is offline

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    Feb 8th, 2012 (2/8/2012 4:14am) in reply to BCPEA

    IF they reopened their servers would be crashed with everyone trying to withdraw money I imagine.
  10. McBain74 McBain74 is offline

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    Feb 8th, 2012 (2/8/2012 4:33am) in reply to BCPEA

     
    Originally Posted by BCPEA View Post

    Why would anyone give them business ever again? Plenty of standup sites out there.

    If everything runs smoothly, I'll go back to FTP
     
  11. sirswish6 sirswish6 is offline i mean super business

    Palatine, IL
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    Feb 8th, 2012 (2/8/2012 6:23am) in reply to McBain74

    i disagree that they are very close to being back up and running. Its been months of the same tapie bs with no progress. i wouldnt be surprised if it never comes back.
    145 
  12. matze_widi matze_widi is offline

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    Feb 8th, 2012 (2/8/2012 11:16am) in reply to sirswish6

     
    Originally Posted by sirswish6 View Post

    i disagree that they are very close to being back up and running. Its been months of the same tapie bs with no progress. i wouldnt be surprised if it never comes back.

    QFT
     
  13. Dan Dan is offline Administrator

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    Feb 8th, 2012 (2/8/2012 9:08pm) in reply to Marky_Crash

     
    Originally Posted by Marky_Crash View Post

    Sorry if this is a repost ..

    http://www.tightpoker.com/news/full-...ted-soon-3203/

    Article seemed a bit sketchy so wasn't sure what to make of it.

    I've reached out to a few of our own sources to try to get confirmation on the March 1st start date. I'll let you guys know what I hear back. That definitely sounds really soon considering the debt issues they seem to be having with the various pros as well as money owed to Chris Ferguson.
     
  14. I Spew Chips I Spew Chips is offline

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    Feb 8th, 2012 (2/8/2012 9:12pm) in reply to Dan

    I think if they can get past the issue of pros owing money and whether or not that $ will go towards paying back players or going to the investors, there isn't much else in the way of them coming back to the US or at least the rest of the world.
     
  15. Adam Adam is offline Emperor

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    Feb 8th, 2012 (2/8/2012 9:53pm) in reply to I Spew Chips

    I highly doubt it, but TightPoker isn't just some random site. The guy who owns it has quite a number of fairly reliable media outlets in the industry. That said, there's a lot of false information and bad sources out there about FTP
     
  16. 88XIN88 88XIN88 is offline

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    Feb 9th, 2012 (2/9/2012 12:42am) in reply to Adam

    even if FTP re-opens I hope no1 supports them cause I think about all the $ I deposited back in the day on FTP and all the dreams I had only to be crushed by some fucking greedy scum POS who was misleading me
     
  17. willy_bolda willy_bolda is offline

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    Feb 9th, 2012 (2/9/2012 3:16am) in reply to 88XIN88

     
    Originally Posted by 88XIN88 View Post

    even if FTP re-opens I hope no1 supports them cause I think about all the $ I deposited back in the day on FTP and all the dreams I had only to be crushed by some fucking greedy scum POS who was misleading me

    Pretty sure (or at least I hope) that any of the "scum" would get shipped out and replaced with new people from a new organisation. Will wait til I judge!
  18. lunarphase lunarphase is offline

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    Feb 9th, 2012 (2/9/2012 5:21am) in reply to willy_bolda

    March 1st looks like its going to need a miracle
     
  19. Dan Dan is offline Administrator

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    Feb 9th, 2012 (2/9/2012 6:23pm) in reply to lunarphase

    I went and asked Tapie's lawyer about the March 1st deadline directly. Here was his response, which was a little wishy-washy, but seems to indicate it's a long shot:

    http://www.pocketfives.com/articles/...ipated-587150/
     
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