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    • Full Tilt Poker and Groupe Bernard Tapie Updates - Phil Ivey's Divorce Settlement Problems



    Happy New Year then poker fans and another month brings more snippets of information regarding the former giant of online gaming, Full Tilt Poker . It's been common knowledge for some months that the French company, Groupe Bernard Tapie (GBT), has been in talks with various parties including the United States Department of Justice and the disparate Full Tilt companies regarding a takeover.


    While acquisition by GBT is an almost certain outcome pending a resolution with the U.S. DoJ, there are still a few creases that need ironing out, not least how the new company will pay back those customers around the world still owed money. It looks likely that GBT will fund the DoJ so money can be transferred back to U.S. customers while elsewhere GBT will look at other options to repay customers directly. Interestingly they have not ruled out offering shares in the new company as payment rather than cash.


    GBT have enlisted a Washington-based lawyer named Behnam Dayanim who has been negotiating with the DoJ to establish the path ahead. He has disclosed a couple of snippets of information that are worthy of mention; firstly no current directors or owners will be able to acquire a financial interest in the new company and secondly, GBT will be reapplying for it's gaming licenses with the same bodies it previously held them with, namely the Alderney Gaming Commission and the Kahnawake Gaming Commission. Dayanim was not able to give any dates by which the new company could be up and running but has suggested mid-2012 as a possibility.


    Phil Ivey's Divorce Case Reveals Full Tilt Finances



    When poker pro Phil Ivey and Luciaetta Ivey finalised their divorce proceedings in 2009 in what seemed to be relatively amicable circumstances, Luciaetta was unaware that Phil had donated $5000 to the judge presiding over their case, Family Court Judge Bill Gonzalez. No one is suggesting that Phil was bribing the judge but just the act of not disclosing the payment meant that grounds existed, according to Luciaetta and her lawyer, to re-open the divorce negotiations.


    phil and luciaetta ivey
    Phil and Luciaetta Ivey

    Of more interest to poker fans will be the fact, revealed by court transcripts, that Ivey was being paid $920,000 per month by Tiltware, the parent company of Full Tilt Poker - just to have him listed as one of their poker pros, albeit quite possibly the most talented player in the world. Full Tilt had a impressive number of pros on their books when they stopped trading and one wonders whether these financial outgoings were part of their cashflow problem. If not, it just demonstrates how much money flows around the electronic world of online gaming.




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