FTP Reaches Deal with US Justice Department?

Numerous reports on the agreement; confirmation still anticipated There have been numerous reports this week that prospective Full Tilt Poker owners, Groupe Bernard Tapie, FTP and the US enforcement officials have reached an agreement that may release player funds and enable payouts to those damaged by the US Justice Department actions. Apparently, the Group Bernard Tapie acquisition has been progressed after an agreement with the US Department of Justice, which is still subject to approval from FTP shareholders. A report also arrived of a statement from Full Tilt chief Ray Bitar to Tiltware shareholders, in which he advised: "I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising Full Tilt Poker. "My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time. "With DoJ's consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP. That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure the terms of that proposed agreement will be shared with the membership and voted on." It has also been noted in the report that final details still need to be finalized between GBT and the US Attorney's Office for the Southern District of New York, but that once the details are worked out, Groupe Bernard Tapie will be able to propose a deal to acquire Full Tilt Poker directly to shareholders. Apparently, if the acquisition goes through, Groupe Bernard Tapie will assume responsibility of the company's debt to non-US players whereas the US Department of Justice will set up a fund to repay owed US players. So far, no comment has arrived from The Justice Department on the reported agreement.