Groupe Bernard Tapie and DoJ Set To Begin Negotiations This WeekPublished on October 2nd, 2011 2:24 pm EST
Just a day after the AGCC revealed that they were terminating three of Full Tilt Poker's licenses, Groupe Bernard Tapie and Full Tilt announced that they had signed an acquisition agreement.
Despite this positive development (and it certainly is a positive development, the first in months for Full Tilt), there are still a number of obstacles that need to be cleared before a deal can be made official.
The biggest obstacle? The US Department of Justice.
Groupe Bernand Tapie has already stated that the potential deal hinges on a "favourable resolution with the United States Department of Justice".
Representatives from Groupe Bernand Tapie are set to begin meeting with the Department of Justice early this week. The people behind Groupe Bernard Tapie are shrewd negotiators, and it will be interesting to see how flexible the US DoJ ends up being.
I believe that the negotiations between Groupe Bernard Tapie and the US DoJ are set to get underway tomorrow. Don't be surprised if the negotiations drag on for weeks - the two sides have a number of issues to discuss and sort out.
Some of the topics of discussion between Groupe Bernard Tapie and the DoJ will be: what happens to the reported $331 million that the Department of Justice seized from Full Tilt Poker over the past 4 1/2 years? How much of a fine will Full Tilt Poker have to pay to the DoJ to settle? Will some sort of a repayment schedule for the fine be allowed (similar to PartyGaming's settlement with the DoJ), or will Groupe Bernard Tapie have to pay one lump sum payment?
In short, more waiting lies ahead as Groupe Bernard Tapie and the DoJ engage in discussions that will likely stretch through most of October. Remember, an agreement needs to be reached with the DoJ before a single hand can ever be dealt on Full Tilt Poker ever again.
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