Cereus/UB parent company to liquidate assets

alaskabill · Oct 29, 2011

Apparently Cereus/UB/AP is going to be liquidated and the proceeds used to pay back players.

http://gamingcommission.ca/news/pr10272011a.pdf

http://pokerfuse.com/news/poker-room-news/cereus-plans-to-liquidate-assets-repay-players/

If people get even partial payment from UB before FT I'm considering it a sign of the end of the world.

eberetta1 · Oct 29, 2011

That would be an unexpected source of income for me. I already have won enough on other sites to replace my AP/UB bankroll, so I have considered the funds already written off. To get two small checks would be a good day indeedy.

genleemb · Oct 29, 2011

That is interesting news ... I too wrote off my UB and AP roll a long time ago.

Not that this makes me think I'm getting anything back yet. Last I heard their liabilities was huge and their assets was small.

Ernster86 · Oct 29, 2011

At least there is a shining star in all of this (Poker Stars)

soncheebs · Oct 29, 2011

What us the first link supposed to be...it just takes me to scottrade.com???

soncheebs · Oct 29, 2011

"The proposal comes just days before the October 31 deadline by which Blanca has to file a claim for assets seized by the DOJ." From the second linked article.

Sounds to me like they might just be posturing, just because they proposed a way to do something, doesn't mean it will get done...and the deadline is a few days from the proposal, I'd be surprised if anyone saw more than .30/dollar...if that.

Poker Orifice · Oct 29, 2011

soncheebs said:
I'd be surprised if anyone saw more than .30/dollar...if that.

that'd be around 55cents for me!!

F4STFORW4RD · Oct 29, 2011

Personally I think that the world of online poker will be a better place without this particular establishment.

Kenzie 96 · Oct 29, 2011

I can't believe you cynical bastids think UB/ Absolute might be posturing. I told my banker I'd be making my house payments as soon as AB's check got here & he was fine with it.

Charade You Are · Oct 29, 2011

soncheebs said:
What us the first link supposed to be...it just takes me to scottrade.com???

Maybe he's an affiliate of scottrade

soncheebs said:
I'd be surprised if anyone saw more than .30/dollar...if that.

I'll take .30/dollar. Better than .00/dollar.

Absolute Poker was my first poker site in the good old days before F'n Frist's UIGEA. Still have a soft spot in my heart for it despite everything.

Worak · Oct 29, 2011

Hey if it's really .30/1$ I'd get 60$ .... the 180$ I have there I considered being a total loss / never played there since BF and won't ever again.

I would visit the site once again just to withdraw though.

Roller · Oct 29, 2011

I had begrudgingly written it off ....

$$$

Potential Solution Submitted for consideration and approval.

When the money is in my hands I'll believe it, until then a potential solution and consideration for approval is of little value but at least there is a possibility of players receiving their funds.

Fantastic news if it happens.

jazzaxe · Oct 29, 2011

I have less than 10 dollars on AP left over from 2006, do you think they would pay it to me or is it too little?

alaskabill · Oct 30, 2011

Hey gang,

Sorry about the scott trade link. I was multi tasking and pasted the wrong link.

Here is the link I meant to post.

http://gamingcommission.ca/news/pr10272011a.pdf

Again, really sorry about that.

dan abnormal · Oct 30, 2011

DANG and on black friday I blew my whole roll on both sites trying to hit the BBJ.

this news is kind of surprising

Charade You Are · Nov 2, 2011

dan abnormal said:
DANG and on black friday I blew my whole roll on both sites trying to hit the BBJ.

this news is kind of surprising

LOL on Black Friday I kept withdrawing and cancelling the withdrawal from Absolute Poker trying to decide if I wanted my money in payment processor limbo or on the site. Finally decided to leave it on the site.

http://www.pokernewsreport.com/absolute-poker-and-ub-finally-promised-reimbursement-5672

Finally, the KGC added that their “foremost concern” during the long months without any positive developments has been to return US and non-US players’ funds “as quickly and completely as possible”.

FTP vs AP - who will get the players' money returned first?

jolubman · Nov 2, 2011

Seeing is believing and I don't see any new money in my pocket.

wagon596 · Nov 3, 2011

I don't even remember how much I had on either one, so it couldn't be much. But it would be nice for anyone who had a considerable amount to get back some if not all. Good luck...

illphillllllll · Nov 5, 2011

news is good i guess but i wouldn't get my hopes up. even if cereus is sold i don't feel like i would be paid my money though.

soncheebs · Nov 5, 2011

Personally I think this is a good thing in more than one way.

1. people will get SOME money back from one of the shadiest sites on the internet.

2. the fact that kahnawake is going to go further in the red to give some of the money back, points towards an even more impending all-over US legalization (why would they pay back anything unless they were intending to still operate or operate in the future with good estimated growth.?)

Cereus/UB parent company to liquidate assets

alaskabill

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