Full Tilt Poker Requests Hearing to Reinstate License be Delayed: Held Privately

Written by:
C Costigan
Published on:
Full Tilt Poker

Full Tilt Poker attorneys were asking for the Alderney Gambling Control Commission to delay a sceduled hearing for today July 26, 2011 to discuss the company's fate.

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CEO of Chili Poker, Alex Dreyfus, told Quadjacks.com Tuesday morning that the French Gambling authority, ARJEL,is in the process of auditing Full Tilt Poker and expects the Alderney Gambling Control Commission to follow suit, potentially delaying a highly anticipated hearing to determine the overall fate of FTP.

The AGCC hearing was taking place at 10 am London Time today.  A number of media outlets were set to provide live updates. 

Dreyfus has intimate knowledge of ARJEL, having worked closely with the French gaming authority. 

Dreyfus told Quadjacks.com that the license was suspended by the French authority shortly after AGCC pulled the plug for failure to maintain sufficient funds to cover player liabilities (segregating funds).  He noted that an audit would be required to satisfy the French authority in order for Full Tilt Poker’s license to be reinstated.

Quadjacks.com was also reporting that Full Tilt Poker had requested a rescheduling of Tuesday’s hearing in order to finalize their negotiations with a group of mysterious European investors. 

PokerNews.com was reporting that Full Tilt Poker agreed to pay back £250000 owed to the AGCC in fees within seven business days. 

They also noted that FTP attorneys requested the delay of hearing and requested said hearing to be held in private due to "confidential information that would impede further negotiations with the investor group". 

“Surprise, surprise,” noted Payton O’Brien, Senior Editor of the Gambling911.com website.  “It is sad to say that our expectations of what was going to occur at today’s ‘hearing’ have pretty much been met and we would expect nothing less from Full Tilt Poker, a company that has basically disgraced the online poker industry.”

Dreyfus also confirmed to Quadjacks.com at 6:25 am EST that Full Tilt Poker was asking for the delay and private hearing.  The licensing fees would only be paid, however, if the hearing is made private, Dreyfus claimed. 

Full Tilt Poker owes millions of dollars to players around the world following an April 15 indictment by the US Justice Department and subsequent yanking of the company’s license by Alderney authorities on June 29.  Full Tilt Poker co-founders were charged in the US with money laundering and bank fraud. 

- Chris Costigan, Gambling911.com Publisher