Liquidator Says Online Poker Players Owed AUS$5 MillionReport Details Failure of Tusk Investment Which Owned 28 Online Poker Room; Players Still Owed |
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The liquidators of Tusk Investments, which owned 28 online poker rooms operating on the Microgaming network including Battlefield Poker, Poker.ie, Red Nines, Dave’s Poker Room, and Berserk Poker, have updated creditors of the failed Vanuatu-registered operation.
The report has been eagerly awaited by players who had money on the poker rooms frozen though no substantive statement 
The liquidators said there was an estimated deficiency between assets and creditors of AUS$5,184,110 and found that there was AUS$1,790,215 cash at hand made up of players money while poker players, as creditors, were owed AUS$5,312,923.
The report explained that the liquidators would base any return to ordinary unsecured creditors, of which there are 3,000, on the realization of Tusk’s assets, and the quantum of proof of debt submitted to creditors. The liquidators have requested that all players who believe they are owed money should contact them with proof of the debt.
Tusk Investments made a profit of AUS$282,126 in the year to June 2006, a loss of AUS$1,588,326 in the year to June 2007 and a loss of AUS$942,896 in the seven months to January 2008 before directors decided the company was no longer viable.
