Gaming Intelligence released a statement from Behnam Dayanim, Groupe Bernard Tapie's attorney, which indicates that the debts of numerous high limit poker players owed to Full Tilt Poker (FTP) are the reason the pending deal between Group Bernard Tapie (GBT) and FTP is being held up.
While GBT was conducting due diligence to learn more about FTP's financial situation, it was discovered that $10 Million to $20 million was owed to FTP by players that include Phil Ivey, David Benyamine, Erick Lindgren, Mike Matusow, Layne Flack, and Barry Greenstein.
“The diligence has revealed that the financial position is worse than we had anticipated,” Dayanim told Gaming Intelligence. “We do not want to litigate a whole bunch of individual cases against professionals post-acquisition so we are trying to negotiate but we have not been making a lot of progress."
No comment has been received from the players listed or their attorneys.
“This is not the only issue that is holding up the sale but it is a significant one. The company has greater liabilities — excluding player liabilities — than we had hoped. The forfeiture would extinguish any U.S. claims to the assets but they do not necessarily extinguish creditor claims in other countries.”
Tapie is seeking more investors due to the financial position of FTP being worse than expected. Still, sources inside the company appear to be confident that the deal with FTP and the Department of Justice will be completed by the end of this month.
PokerNews was able to find the answers to a few questions from Behnam Dayanim - read the interview here.