Full Tilt Poker Claims Administrator: Remission Process to Start Soon

Dustin Gouker : August 2nd, 2013
Full Tilt U.S. cashouts

RELATED ARTICLES

Garden City Group, the claims administrator in charge of returning Full Tilt Poker funds to American players, has provided an update saying that the remission process will start “shortly.”

GCG also notes that “final balances” will be the basis of funds returned to players, settling some debate in the poker community about how much money U.S. players would actually receive.

American players are still owed approximately $150 million from the old Full Tilt Poker, before it was taken over by the parent company of PokerStars, Rational Group. Rational forfeited more than half a billion dollars to the United States Department of Justice in 2012, and those are being used in the remission process.

Here is the entire statement, from the GCG website.

GCG, working with the Asset Forfeiture Unit of the United States Attorney’s Office for the Southern District of New York and the Asset Forfeiture and Money Laundering Section of the United States Department of Justice, has completed the review of data provided by Full Tilt Poker (“FTP”). It has been determined that the calculation formula to be used for the Petition for Remission process will be based on players’ final balances with FTP as of April 15, 2011 (the “FTP Account Balances”). The claims process will begin shortly. Once the process begins, GCG will email instructions on how to complete an online claim to all potentially eligible claimants identified by GCG utilizing data supplied by FTP. Account balances from online poker sites other than FTP are not included in this remission process. Petitioners must also meet all other requirements outlined in 28 C.F.R. ยง 9.8 to be considered eligible for remission.

If you do not receive an email notice and you believe you are eligible to participate in the remission process, you may file a claim online using the directions that will be provided on this website.

If the forfeited funds available for distribution equal or exceed the aggregate FTP Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her FTP Account Balance. If the aggregate FTP Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.

You can check the GCG website for the entire statement and future updates.

Get your daily dose of poker news with the PTP Hit and Run.

Daily Fantasy Sports Promo and Referral Codes >>>
comments powered by Disqus
 
 
 
 

FREE POKER BANKROLLS

Don't want to deposit? Try free bankrolls.
Room Bankroll
Sign up at Titan Poker Titan Poker
Major room, easy qualify
$150  
Sign up at Sky Poker Sky Poker
Good for MTT / SNGs Only
£10  

FOLLOW Parttimepoker

Twitter
Facebook
RSS Feed

tools for poker players

PTP Poker Forums

Poker Props

Get paid to play poker - up to 102% rakeback or more. Learn more and apply today.

Read the PTP Hit and Run

the ptp hit and run

read the net's most popular summary of all the day's breaking poker news.

PTP Poker Forums

Join our POKER forums

Join 40,000+ members - talk strategy, meet other players and get staked.

Free Poker training

FREE STRATEGY VIDEOS

access dozens of free strategy videos from top pros

Join the net's top staking site

online poker staking

over $15,000,000 staked so far. sign up today and get in on the action; membership is free.

 
 
 
 

About PartTimePoker

Online since 2004, PartTimePoker.com brings together a unique combination of top-paying poker rakeback and prop offers and a variety of poker-related content including poker news, strategy articles, free poker training reviews and the latest Poker News and Gossip. PartTimePoker.com - your best source for online poker.

Inside PTP

Rakeback and Free Bankrolls

PTP offers several rakeback and free bankroll offers for our viewers. If you're not familiar with rakeback, read our guide to online poker rakeback. To learn how much you could be earning with rakeback, check out our rakeback calculator. If you're ready to get started, our most popular rakeback offers are True Poker Rakeback.

Free and no deposit bankrolls (also called free poker money) are essentially promotional deals we've arranged with rooms where they give you a small amount of money (usually $10-$150) started.