by Mario Alfonsi | Published on Apr 25, 2012 | Updated on Apr 25, 2012News came down early Tuesday that Groupe Bernard Tapie (GBT) – the French investment group that had been heavily involved in negotiations with the United States Department of Justice (DOJ) to purchase the assets of Full Tilt Poker – was dropping out of talks to purchase the poker site, after reaching an impasse on two critical issues.First, there was disagreement between GBT, the DOJ and Full Tilt over how players would be paid their outstanding balances from existing Full Tilt accounts. On a basic level, all parties agreed that GBT would be responsible for all player balances, excepting those belonging to players from the United States.However, the timeframe and manner of these repayments was contentious. While the DOJ wanted all players repaid in 90 days, GBT’s plan would have given players the right to withdraw their funds over time. About 95% of players would have been able to withdraw their entire balances immediately, while those with larger balances could get their money incrementally – with play on the site speeding up the process.GBT also had concerns about how the forfeiture of Full Tilt’s assets would be perceived by foreign courts. The company said it was possible that a non-US court could see the entire process as a “fraudulent transaction” and invalidate the purchase.But despite that disappointing news, Tuesday may have brought the eventual relaunch of Full Tilt Poker closer than ever. At the same time GBT announced that they would no longer be attempting to purchase the site, rumors began to swirl that PokerStars would buy their formal rival instead.While some claimed to have inside knowledge of a purported deal, PokerStars would only confirm that they were in negotiations with the DOJ, and was thus unable to make any specific comments about the situation. According to a report in the Wall Street Journal, the deal may be part of a broader way of settling the civil case against Full Tilt Poker and PokerStars.Full Tilt Poker also stated that they could not comment on the details of any ongoing discussions, but said that they were “more optimistic than ever that its number one goal will be obtained: Full Tilt players will be repaid.”
