Full Tilt Poker is finally paying up, but not paying up to its players, instead it is paying up its overdue licensing fees to the AGCC. Full Tilt Poker has paid up around $410,000 to the Alderney Gambling Control Commission. These overdue payments were first brought up when the AGCC hearings regarding the Full Tilt issue happened at London recently.
The FTP attorney, Martin Heslop had stated that the payments to the AGCC were not made since FTP did not believe that the license would be reinstated. Since FTP has now paid up the fees, it might mean it has received some news regarding its license that could be reinstated. The AGCC claims that this payment to reinstate its license would work in favor of the FTP players since many of them have their money stuck in the FTP accounts that they are unable to access.
Since FTP has now paid up its licensing fees that were overdue, the AGCC will now allow for some commercial discussions to happen over the fate of FTP so that if a successful deal takes place in the future it is beneficial to the players of FTP. The AGCC however, released a statement regarding the hearing stating that the further information regarding the date and the venue would be announced later. The AGCC is allowing FTP to have its commercial negotiations before any kind of ruling in the interest of all involved. The AGCC is giving FTP time until the 15th of September 2011 to make its deal after which they will proceed with the hearings.
There have been several rumors regarding the potential investors and about them being from Europe, nevertheless no information regarding them or the nature of the agreement they are about to make can be confirmed.
The AGCC has stated that FTP’s license is still suspended but is still considered as valid till the hearing resumes. The hearings will probably be held privately, as opposed to what was announced previously. FTP and AGCC have stated ‘financial concerns and company security’ as the reasons for holding these hearings privately.
Full Tilt Poker has probably been the worst hit site after Black Friday since it has been dealing with various issues after it has been shut down. Since Black Friday the site has been shut down in America and since the end of June due to AGCC’s decision it has been shut down worldwide.