Groupe Bernard Tapie and DOJ Come to Terms on Full Tilt
by Pokeraddict, 11-01-2011 at 03:58 PM (1090 Views)
Groupe Bernard Tapie and the U.S. Department of Justice have come to terms on a settlement that could pave the way for a sale of Full Tilt Poker. Subject Poker reported this morning that a letter went out to shareholders stating that the Department of Justice agreed to accept a payment and a commitment to paying all players outside of the U.S. In exchange for that payment, the Department of Justice would pay all U.S. players.
Groupe Bernard Tapie must now come to terms with the Tiltware shareholders. Those shareholders must agree with a two thirds majority for a sale of assets to Groupe Bernard Tapie. The agreement could take the form of cash, shares in the new company, or a combination of the two. There is no time frame for when shareholders would vote. There is also no time frame for how long it would take to repay all players that are owed money by Full Tilt.