By Matthew Marietta, Rakeback.com Executive Editor
The Garden City Group (GCG) which is responsible for repaying US player balances following the Black Friday collapse of Full Tilt has announced its timetable for repayments.
US players with outstanding balances should receive an email from GCG informing them of the process and what they need to do to reclaim their funds. Instructions will aslo be posted on the claims website.
Petitions for remission of funds can be submitted to GCG starting September 16. The window for acceptance of claims will close 60 days later on November 16.
What players will receive will depend on there being sufficient money available to cover all claims. It is unlikely that non-financial claims for tournament tickets, player points or similar items will be considered.
Assuming that there is enough money - noting that PokerStars paid $547m to the DOJ when it took over the defunct Full Tilt - players can expect to have their claims settled on the basis of their full balance as of Black Friday, April 15 2011.
PokerStars’ parent company, the Rational Group, re-launched Full Tilt and within a fortnight had repaid all the players outside the US their full balance plus VIP benefits. It is this commitment to its customers and efficiency in execution that has made PokerStars the overwhelming market leader in online poker.
Now that PokerStars has taken over Full Tilt, players can be confident that their money is held in segregated and accounts and completely secure.
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