On Full Tilt Poker funds within 90 days.

Players can breathe easier now: after more than a year to wonder if their money had the same value that Monopoly money, Full tilt Poker players will have what feast since an agreement has been concluded, thus allowing players to review their bankroll so long disappeared.

The agreement, approved by the Office of the Prosecutor of the United States, allows Full Tilt voluntarily renounce all assets in favour of the Government of the United States, which will then transfer these assets to PokerStars. In return, the Government agrees to drop charges against Full Tilt enterprises money laundering and civil.

And especially, for American players, refers to a period of 90 days following the transfer of assets to PokerStars full and this, without limitation or restriction. Such an amount should correspond to approximately 184 $ million total. Although other assets (FTP, medals and other items) are not part of the agreement, a source of PokerStars Indicates that the company intends to find a fair solution to this effect. US players with the balances of the accounts pending will be compensated separately and players will have the option of filing a request for surrender with the U.S. Department of Justice. The value should be about 150 million $. For the purposes of compensation, the players will be classified as either in "US" or "Non-us" category according to their home tested and approved by Full Tilt Poker dated April 14, 2011.

Under the agreement, PokerStars is committed to provide $547.000.000. the Government of the United States, spread over three years. In doing so, all pending civil cases and charges of money laundering against PokerStars will be left fallen. The criminal charges against individuals related to PokerStars are in no way resolved under the agreement, and these accusations have never been part of the negotiation of this agreement.

In order to complete the purchase of assets, Isai Scheinberg shall, within 45 days of the closing, to withdraw and not have any role management or Director of any company related to PokerStars, including any entity that may own or operate all property confiscated from Full Tilt or their affiliates present or future. This part of the agreement can be reviewed by the parties, without court order, following the criminal outcome of case Black Friday.

At the end of the agreement, Full Tilt Poker or PokerStars admit no fault; neither one nor the other companies, or the Government, not affirm or deny the merits of criminal charges. Once the agreement in place, the agreement of use of the domain name of the two companies will be terminated. The Government undertakes that the orders are lifted. The two companies will offer the poker real money to the United States until this is permitted under the applicable law. Companies will never be able to make any claims against the United States, the FBI or the Office of the Prosecutor of the District of New Yorkresultant of the confiscation of assets seized by reporting to the civil charges. Full Tilt is committed to withdraw all claims against the property seized. PokerStars undertakes to remove any possible claim against assets off-PokerStars. The value of the PokerStars accounts retained following the civil action will be published by the Ministry of Justice.

FullTilt Poker will be released of the following assets: BT management, Dromane Limited, Filco (Holdings) Limited, Filco Limited, Fitzroche Limited, Graybel Limited, Irolo (Italy) Limited, Corporation AVV Kolyma, Ludus Limited, Cyprus, Media Management GmbH, West-my Nook Limited, oxalic Limited, Orinic Limited, Kings Pocket Consulting Limited, a pair of Kings Limited, Ranston Limited, Real Media Limited, Rekop Limited, Rosbull Limited, Rullan Joyce Limited, Tiltproof LimitedTiltWare LLC, TiltWare goods Services LLC. and Vantage Limited.

The confiscated assets are:
-Accounts and money due from the date of forfeiture.
-All game data and history related to the enterprise, computer records, database, operating reports, and all files of reconciliation
-All tangible personal property
-Documents that are used in, or intended to be used in, the Full Tilt company
-All rights under the NDA
-All rights agreements with suppliers, etc.
-All species and quasi-comptes Bank, etc.
-All intellectual property
-All other intangibles
-Customer databases and providers since the creation of the company
-All current and potential claims against a third party
-Other assets of the group Full Tilt used in the operation of the company are not expressly excluded

For the moment, a precise date for the relaunch of the former site of Full Tilt Poker is not clear, but PokerStars sources confirm that it is a priority that to happen as soon as possible, certainly within 90 days as stated in the agreement.

Source: http://diamondflushpoker.com/2012/07/pokerstars-acquires-full-tilt-poker-assets-doj-agreement-complete/

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