Full Tilt Poker remission process update

Posted by Steve Ruddock on Oct 14, 2013 Posted in Poker News | No Comments »

moneyThere are several pieces of new information that have come to light regarding the Full Tilt Poker remission process being overseen by the Garden City Group (GCG) some of it good, and some of it a bit disheartening and aggravating.

Only 2% of potential claims have been filed

The poker community was expecting for a number of potential claims to go unfiled for a number of possible reasons:

* Some players simply not caring about the amount of money in their account

* Some players not wanting to go through the hassle of filing a claim

* Some players forgetting they have money in their account (perhaps the money was written off long ago)

* Some players worried about tax implications

* Some players who may have been multi-accounting or breaking other T&C’s that they don’t want to highlight

* Some players simply fearing the government’s involvement

But few expected to see only about 2% of potential claims filed at this point –about halfway through the filing part of the remission process—with the GCG reporting that just 27,000 of the possible 1.4 million petitions have been filed.

Affiliates WILL get paid… sort of

After plenty of grumblings by the poker community the GCG has decided to backtrack on the stipulation that affiliates would not be eligible to reclaim their Full Tilt Poker balances. Still, the GCG didn’t do a complete retreat, as affiliates will only be eligible to file a claim for their balances that come from poker play, not from their affiliate activities [bold mine].

“It has been determined that Affiliates of Full Tilt Poker (“FTP”) will be able to submit Petitions for Remission to recover the portion of their account balances that does not relate to their Affiliate status. Affiliate accounts have been flagged as such because the player signed up with FTP as an Affiliate. If you are an Affiliate, you will be able to submit a Petition for the portion of your account balance that relates to poker transactions, as long as you meet the eligibility criteria. GCG is in the process of receiving updated data from FTP concerning Affiliates’ accounts. Once GCG receives and completes its review of the data, we will email all Affiliates of record to provide instructions for the Petition process and provide login credentials for online filing. You will then have 30 days to submit a Petition. The filing process for Affiliates will not delay the processing or payment of other Petitions for Remission.”

As you’ll see below this new position raises perhaps even more questions, and may bog down the remission process with more disputes, despite the GCG’s claims that it will not affect the process.

PPA sends the GCG a letter on behalf of players

The latest bit of news on the FTP remission process came to light earlier today when the PPA announced they had sent a letter the GCG on behalf of poker players in an effort to clarify a number of different issues that have come up during the remission process.

In all the PPA lists 14 specific questions ranging from clarification of definitions to the protocol for disputing balances. You can read the letter at the following link: http://theppa.org/ppa/2013/10/11/ppa-letter-re-full-tilt-poker-claims-administration-process/


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