ONE TIME!!! (** Edit: Update with Cliffs **)

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verneer's Blog

July 25 2011

ONE TIME!!! ( Edit: Update with Cliffs )

I'll go ahead and use my "one-time" in anticipation for tomorrow.

Edit: Even though my expectations were really low, this meeting was still a letdown. Basically, FTP has another 6-7 weeks before the next meeting takes place. LOL. Anyhow, here are the cliffs from the 2+2 NVG thread which summarize today's events well:

Entry Tags:

5811 Views | Comments(16)

July 25,2011

for?

Gakn29

July 25,2011

fulltilt hearing I recon......

00bradical

July 25,2011

Yep - FTP $$.

verneer

July 25,2011

If I use my one-time as well, will that help?

hookem148

July 25,2011

Dunno if now is the time Pawel.

Seems the hearing is just the first step of many to me. Feels like we are using our 'one time' to make the final table of a satellite to the ME, instead of all in on the bubble or 40/60 for the bracelet.

Celt81

July 25,2011

saving my one time for US legislation. Worth much more to me for legal poker than my bankroll stuck on FTP

LT22

July 25,2011

LT - US legislation is inevitable. FTP bankrolls are anything but.

verneer

July 26,2011

Death and Tax,s ...poker legislation nope. Im in London so just poppin in to see the circus..the hearing I mean

IronCross

July 26,2011

Fulltilt Fuckers....first thing the FTP reps do...ask for a postponement, and for a private hearing.

IronCross

July 26,2011

these FTP guys have something to hide..

IronCross

July 26,2011

some great rumours spreading around the hearing...if only half are true then some poker pros reputations will be ruined.

IronCross

July 26,2011

the hearing is now being held in private...a poker pro shouts out that FTP are corrupt...loud applause

IronCross

July 26,2011

so more delays then?

hookem148

July 26,2011

//after update// Wait, so do we still get to keep our one-time?

hookem148

July 26,2011

The hearing was yesterday and it went as well as it possibly could.

* They closed the hearing to all media and non FTP / AGCC people.

* They postponed the hearing till the 15th of September

Obviously 2p2 is going nuts saying we deserve to know, how can they do this, and so on. While having the hearing public would certainly be good for my curiosity, I\'m pretty certain it would hurt my chances of getting money back. It\'s a negative freeroll. Nothing good can possibly come from the airing of dirty laundry while it could certainly harm negotiations or further destroy FTP\'s image.

I think the hearings result was the best we could have possibly hoped for besides a surprise \"we have a deal and everyone is getting paid tomorrow\" which had a .0001% chance of happening since they would have likely announced any deal before the actual hearing.

Additionally it came out (idk how) that FTP owes AGCC about 250K for their licence. AGCC asked for the monies and FTP said something like \"promise us our licence back and we will ship that chedda in less than a week but we will not pay you if we can not get permission to operate\".

Random industry insiders and leaks (possibly fake leaks) from inside FTP all say a single group of investors is in exclusive communications with FTP and this group needs more time to audit the books and do due diligence. These rumors also state the sale price would be for the amount owed to players. This would prevent current FTP management from profiting on the deal. That\'s important because the DoJ is not going to let any deal go down if the bank fraud criminal types are allowed to profit in any way.

Something I stand corrected on is thinking Phil Ivey is a total douche. When he filed that lawsuit I was loling that he could be so self serving and so on. It now appears, to me at least, that the suit was to the benefit of the players. I am assuming Phil filed the suit because FTP management was slow to realize the had to take drastic action and were probably unwilling to give up complete control and walk away with nothing. It could have had the effect of a significant jump start to what is turning into a long process. That\'s what i hope anyway.

Probability

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Comment	The hearing was yesterday and it went as well as it possibly could. * They closed the hearing to all media and non FTP / AGCC people. * They postponed the hearing till the 15th of September Obviously 2p2 is going nuts saying we deserve to know, how can they do this, and so on. While having the hearing public would certainly be good for my curiosity, I\'m pretty certain it would hurt my chances of getting money back. It\'s a negative freeroll. Nothing good can possibly come from the airing of dirty laundry while it could certainly harm negotiations or further destroy FTP\'s image. I think the hearings result was the best we could have possibly hoped for besides a surprise \"we have a deal and everyone is getting paid tomorrow\" which had a .0001% chance of happening since they would have likely announced any deal before the actual hearing. Additionally it came out (idk how) that FTP owes AGCC about 250K for their licence. AGCC asked for the monies and FTP said something like \"promise us our licence back and we will ship that chedda in less than a week but we will not pay you if we can not get permission to operate\". Random industry insiders and leaks (possibly fake leaks) from inside FTP all say a single group of investors is in exclusive communications with FTP and this group needs more time to audit the books and do due diligence. These rumors also state the sale price would be for the amount owed to players. This would prevent current FTP management from profiting on the deal. That\'s important because the DoJ is not going to let any deal go down if the bank fraud criminal types are allowed to profit in any way. Something I stand corrected on is thinking Phil Ivey is a total douche. When he filed that lawsuit I was loling that he could be so self serving and so on. It now appears, to me at least, that the suit was to the benefit of the players. I am assuming Phil filed the suit because FTP management was slow to realize the had to take drastic action and were probably unwilling to give up complete control and walk away with nothing. It could have had the effect of a significant jump start to what is turning into a long process. That\'s what i hope anyway.

July 27,2011

i think the question here is..."why did we trust a bunch of compulsive gamblers with our money"

IronCross

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