A number of pros still owe substantial amounts of money to Full Tilt Poker. If the money doesn't come in, it could jeopardize the deal, says investor group Groupe Bernard Tapie.
The ongoing Full Tilt Poker saga continues to twist and turn.
Yesterday Groupe Bernard Tapie, the investor group looking to take over the company, said to be hoping to end the deal already by the end of this month.
However, today Groupe Bernard Tapie's lawyer, Benham Dayanim, said that as much as $10 to $20 million is still owed to Full Tilt Poker by a number of well-known pros, and this according to Dayanim's statements could represent a real "obstacle" for the deal to go through.
"GBT doesn't want to acquire assets which will need to be litigated over later" Dayanim told
PokerStrategy.com.
"In total, the sum owed to the company is between $10 and $20 million. Several of the players who owe money and have not yet expressed a willingness to pay their debts include
Phil Ivey, Layne Flack,
David Benyamine, and
Erick Lindgren. Barry Greenstein,
Mike Matusow, and others owe a smaller but still significant amount," he added.
"If the money doesn't come in, it creates a serious obstacle to completion of the deal. This isn't the only issue with the takeover, and the deal won't end on any one issue - but this is a substantial item."
So far, the only player to have addressed the claims is Barry Greenstein, who posted a public response on
TwoPlusTwo.
In this, Greenstein admits to owe Full Tilt Poker $400,000, but stresses that he only wishes to pay back the money if is used to repay players from the insolvent
poker site.
"The consensus in the poker community is that all money owed to Full Tilt or taken by investors after the company became insolvent should be used to pay back player’s funds. If I were to make a deal with you it would look like I had turned my back on the best interests of the American players," Greenstein writes in his statement to Groupe Bernard Tapie.
"Even though the terms are easier for me if I deal with you and it will fulfill my legal obligation, I have to see how things work out with the DOJ and try to make good on my moral obligation to the US players. I assume at some time in the future the DOJ will establish a pool of funds from Full Tilt’s assets that will be used to pay off some percentage of the player balances that are owed," he adds.
As said, Greenstein is the only of the players mentioned by Dayanim to address the claims so far.
It further remains unknown just how much each of the other players still owe Full Tilt Poker.
Poker.org will be following the case as it develops.