Professionals from FTP owe money to the poker room

FullTiltPoker is being owed money by their pros! Group Bernard Tapie, which is trying to accquire FullTiltPoker's assets, repay players and run the poker room, once again ran into some problems. It seems that financial situation of FullTiltPoker was way worse then anticipated by the potential buyers, and as poker room is still owed money by some of their player from professional roster (around $10-20mln) Group Tapie commented that retrieving this money is a huge factor in the FTP case.

Behn Dayanim commented: "GBT doesn't want to acquire assets which will need to be litigated over later. 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 Erik Lindgren. Barry Greenstein, Mike Matusow, and others owe a smaller but still significant amount.

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."

Barry Greenstein responds to claims he owes the money to FTP
It took just few hours before first of the mentioned players officially published their part of the story. Barry Greenstein was the first one to do so, as he posted on 2+2 poker forum:
"I have been inundated with calls from all the poker media sites regarding this, so it's easier for me to respond in one place. Obviously, 2+2 has become the main place where people discuss online poker so I'm posting here. It would be nice if everyone who owes money discusses it openly so there is a better chance that they will make good on their debts and the money will end up in the pockets of players with balances on FTP.

My statement to the press and the poker community:

I borrowed $400,000 to play on Full Tilt a few years ago, before PokerStars had high stakes games. I didn’t pay it back, hoping that some people who owed me and had money on Full Tilt would pay me there so I could use that against the debt. (I'm only owed about $150,000 now). I have assumed when this case is resolved, the DOJ will allow methods for dealing with debt to FTP.

Tapie Group contacted me last week and asked if I would pay them directly. Their attorney offered me the opportunity to pay in installments so I could have a chance to use money owed to me. He even offered me the opportunity to discount my debt if the US players don’t get paid in full. I told him that I have never paid less than I owe on any debt and I would rather wait until the DOJ establishes a fund for the US players. I don't believe my debt has any impact on the sale to the Tapie group as they have alleged. I was concerned about taking money due to US players and giving it to the Tapie Group because it is understood that the Tapie Group won't be the one paying the US players. On the other hand, I realize that the total debt counting other players is substantial, especially because I would include in that tally any money taken from FTP once it had become insolvent.

Here is an excerpt from the letter I sent to their attorney:

“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.

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.”

greensteins awesome

Die phil

Nice to get 400,000 borrowed to play on poker site

how can you owe money to someone, and not pay based on your belif that your debt doesnt influence anything. there all scum. and i bet Benyamine probably owes the biggest amount, he was a degenerate fat fuck lol

I can see GBT's position in trying to get these things ironed out ahead of time, but I gotta agree with Greenstein about not paying them at this time. At least wait until the deal is done.

Sucks for GBT but they will just have to consider the outstanding debt owed by Pros as part of the liability they assume when they purchase the company. I don't think anyone should pay them a dime until the sale is completed.

Ivey - from hero to zero.

i dont get why ps isnt using barry more for the company, i love him ;/ ps only use negreanu ;/

Scumbag ivey

I wonder if Erik Lindgren can beat 100nl

Can't believe I looked up to these celebrity live pro scumbags before.

die dana white you corrupt ass scamming piece of shit

lol

"I borrowed $400,000 to play on Full Tilt a few years ago"

so add a % for holding that money for couple years

"I didn’t pay it back, hoping that some people who owed me "

who the fuck cares what he was hoping for?

"I told him that I have never paid less than I owe on any debt "

oh yeah now he's a saint

is bg still living with that mentally handicapped girl?

^ LOL

GB is just a well spoken scum
i bet that he had that "letter" ready, and just waited to posted when shit hit the fan

On February 05 2012 05:38 dogmeat wrote: is bg still living with that mentally handicapped girl?

youre thinking of david sklansky who comes across a bit weird to say the least. ive always thought barry G was a class act and none of this changes my opinion.. i withhold judgement when we the public know maybe 1% of whats really happening behind the scenes

On February 05 2012 20:10 Ket wrote: Show nested quote + On February 05 2012 05:38 dogmeat wrote: is bg still living with that mentally handicapped girl? youre thinking of david sklansky who comes across a bit weird to say the least. ive always thought barry G was a class act and none of this changes my opinion.. i withhold judgement when we the public know maybe 1% of whats really happening behind the scenes

+1

uhm, didnt that girl kill herself also?