Kahnawake Walks Away From UB/Absolute Poker
Gaming Commission Says It No Longer Regulates Parent Company And Players Must Contact US Attorney For Victim Information
While poker players with funds stuck on Full Tilt Poker celebrated earlier this month when PokerStars announced it had acquired the assets of the much maligned company and would repay all player balances those with money stuck on UB.com and Absloute Poker had little to cheer.
However a lesser-publicised part of the deal saw the U.S. Attorney for the Southern District of New York (Manhattan) announce it had reached a settlement with Blanca Games and related companies which, pending court approval, would see Blanca forfeit its remaining assets to the U.S..
Blance Games owns UB.com and Absolute Poker and is expected to be liquidated, that is, its assets sold. However the resulting money will not be distributed to players until a number of claims against those assets have been resolved.
According to the Kahnawake Gaming Commission earlier this week, “If the court approves the settlement, and if there are Blanca assets remaining after the resolution of the claims by other parties, it is anticipated that that the court will provide a process for players to make claims against those assets.
The regulator went on say that as of June 2 it no longer regulated Blanca and that, “At present the Commission has no information as to how players should make such a claim. However, the general victim information number provided by the US Attorney in Manhattan is 1-866-874-8900.”
Current claims against Blanca include that of debt holder Madjeira Fjord.
Overall the picture looks pretty grim for players win money stuck on UB and Absolute Poker.
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