Full Tilt Poker Claims to Open Next Month
This was published 24-08-2013Following a very lengthy period, the United States Justice Department eventually appointed Garden City Group (GCG), to act as refund administrators in assistingUnited Statesresident Full Tilt Poker players to recover the money that is still owing to them.
Poker Stars players in the United States received a refund of their money very soon after Black Friday but United States Full Tilt poker players have as yet not received any refund whatsoever.
The group chosen to handle the disbursement of Full Tilt Poker funds has at long last advised players that the claims process will commence on 16th September, 2013. Players were informed of this fact by an advisory posted on Full Tilt Poker’s Claims website that also advised interested parties that Notices would be emailed to all claimants who were potentially eligible for a refund and who have been identified by the group by using data given to them by Full Tilt. These players were told that they would be receiving emails as from 16th September, 2013, giving them instructions on how to submit a Petition for reimbursement online.
The deadline for submissions for reimbursement of the funds is 15th November, 2013, and ex Full Tilt customers will be required to submit their petitions in just 60 days.
Once the claim submission period has ended payments will be electronically forwarded to eligible claimants.
Although it is hoped that players will be reimbursed all the funds due to them, there is a chance that there may be a shortfall and the Garden City Group has, therefore, not given any guarantee that full funds will be received by players.
Players have also been cautioned that they may not receive a refund of any non-cash assets in their accounts, such as Iron Man medals or tournament tickets and it is not known if they will be converted to cash.
Payment toUnited Statesplayers is expected to be approximately $ 186 million. This will come out of an amount that the U.S. Department of Justice received following a settlement between themselves, Full Tilt and PokerStars in which PokerStars agreed to purchase Full Tilt for a total of $731 million.
