Deadline To Submit Petition for Remission is Saturday, November 16thPublished on November 13th, 2013 7:21 pm EST
Former customers of Full Tilt Poker who still reside in the United States should take note - the deadline to submit a Petition for Remission to recover your trapped balance is just days away.
According to FullTiltPokerClaims.com, the deadline to submit a Petition for Remission is Saturday, November 16th. If you still haven't submitted a claim, it's advisable to do so as soon as possible, just in case you end up disputing the balance. If this is the case, you will need to submit supporting documentation to The Garden City Group, Inc. ("GCG"), which is the company that was selected as Claims Administrator by the US Attorney for the Southern District of New York.
According to GCG, the company sent out 1.4 million email notifications to FTP players. Of this number, only a small fraction (27,000 as of mid-October) had submitted a Petition for Remission. Many players simply didn't have enough money on the site to warrant submitting a Petition for Remission, but others have surely procrastinated. To those people, the deadline to submit a claim is quickly approaching.
Following the November 16th deadline, the Garden City Group will go through all of the petitions and any support documentation that may have been included.
Once this process has been completed, the company will total up all of the approved claims. If this amount is less than the total amount of forfeited funds that is available for distribution, players with approved claims will receive 100% of their balances. If the amount is less than the total amount of forfeited funds available for distribution, players will receive payments on a pro rata basis.
Given the amount of submitted claims so far, it seems likely that those with approved claims will receive their entire balance.
Funds for approved claims will be paid via ACH. There has been no indication as of yet as to when payments might start taking place.
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