Anyone interested in trying to recoup some of their lost funds from an online poker site –whether frozen, or from a site that is simply stalling—can now go over to the Poker Players Alliance website and download or read the Players’ Funds Legal Guide, to determine if a lawsuit is the right course of action for them.

The guide is lengthy at 23 pages (about 10 of those pages comprise the actual guide, with about 13 pages of sources), but there are several summary points along the way; which I will highlight below. For those of you interested in reading the entire guide head on over to thePPA.org.

SUMMARY #1: Players, especially players owed substantial sums, should definitely speak with their own lawyer about whether it is in their interest to file a lawsuit either individually or as a self-defined group of similarly situated players. They must balance the costs and risks against the benefit of having an actual judgment to enforce in a foreign court or a foreign bankruptcy proceeding.

SUMMARY #2: the vast majority of players would have a very difficult time demonstrating a valid claim to the funds in the seized accounts; and an equally (if not more) difficult time prevailing on that claim (which certainly would not happen any time soon). Some players, however, will have unique circumstances that might make the filing of a claim a positive move. Any player who believes, after reading the above, that they wish to proceed with a claim should consult an attorney as soon as possible

So, while the PPA seems to think almost all lawsuits at this point are fruitless, they are making sure that players take the appropriate steps before filing such a complaint.

Tags: Alliance Website, Bankruptcy Proceeding, Benefit, Circumstances, Judgment, Lawsuits, Lawyer, Lost Funds, Online Poker, poker players, PPA, Substantial Sums

This entry was posted on Wednesday, July 13th, 2011 at 9:34 am and is filed under Poker News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.