Tapie Confirms Unpaid Debts May Block Full Tilt Deal

LaurentTapie
Laurent Tapie.

Laurent Tapie, Director of the Bernard Tapie Group, has confirmed that unpaid pro debts could jeopardize the impending Full Tilt deal.

Responding to a recent interview with BTG lawyer Behn Dayanim, Tapie confirmed to iGamingFrance that the unpaid debts of 19 poker pros, including Phil Ivey, Erick Lindgren and David Benyamine, could threaten the impending deal to purchase Full Tilt Poker's assets.

The unresolved debt of $16.5 million is not something the Group is willing to take on, Tapie says, especially since the overall financial situation at Full Tilt is "worse than expected."

Still, Tapie says they have reached out to all of the pros and some have even signed repayment contracts already. Some have yet to respond.

Tapie also specifically said Full Tilt players will only be refunded if GBT completes the takeover, which will require "the bulk" of that money returned.

If it isn't repaid, Tapie says it is true it could block the deal.

Said Tapie, roughly translated:

"The poker community, and particularly that made up of former Full Tilt players waiting to recover their funds, deserves to know the reality of the behaviour of some major poker figures who say they are ‘sorry for the situation of Full Tilt players and want to do everything they can to help them get their funds back, blaming the old management, but also refrain from saying how much they have borrowed from Full Tilt, and lost, playing on the site.

"However these losses represent some of the funds owed to the players who are waiting to be reimbursed. When you are a poker player, a great player at that, recognised and admired, the basic rule, it seems to me, is to honour your gambling debts.

"Fortunately, among the 19 players we have attempted to contact, some have immediately called back and worked with us on a repayment plan to clear their debts, and we are already finalising contracts to that effect."

Read the rest of Tapie's comments at iGamingFrance.

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Paul 2012-02-04 10:13:06

I agree with Barry Greenstein. The Pros should wait until the DOJ establishes a fund for the US players. Then the Pros (who were not part owners) who owe money will pay that money into that fund. As for the Pros who were part owners who took large sums of money off the top that needs to still be decided if it was a criminal act. They certainly need to pay the money back too and they may also face criminal charges if this was indeed a Ponzi scheme.

Lee 2012-02-04 09:49:09

No pay no play-It's just that simple-I doubt most of the greedy Pros will sign a repayment plan RIP FullTiltPoker.com your run is so over