UB Deadline Passes with No Refunds

Mark Seif splitting with Absolute, Annie Duke to leave Ultimate Bet?

by , Nov 3, 2008 | 9:55 pm

For those who recall the sanctions the Kahnawake Gaming Commission gave to Ultimate Bet regarding the “NioNio” superuser scandal, UB was given until Nov. 3rd to start dispensing refunds to affected customers. However, the pending litigation between Blast-Off Ltd and Excapsa Software Inc. as detailed earlier this year on MSNBC.com has not yet been completed although terms of a settlement are nearly complete. Discussion of the settlement can be found over at 2+2. The company handling the liquidation, WSBG Consulting had a hearing Monday on the settlement and it appears that at least $15m more is due to players affected in the scandal. For those wondering why it’s taken so long for this matter to be settled, going through all the documentation on WSBG’s site and of the previous liquidator Mintz and Partners Limited would be a daunting task for anyone with an interest in the case. Expect some sort of state from UB either Tuesday or Wednesday with further details.

Some other information::

The purchase price that Blast-Off Ltd. paid to Excapsa has dropped from $130m to $81.4m.
Russ Hamilton, owner of 4,304,720 shares of Excapsa, had his shares canceled.

UPDATE: Wicked Chops Poker is reporting that Annie Duke may be leaving Ultimate Bet, and also may have won Celebrity Apprentice.

Refuted by Annie on her blog.

UPDATE #2: Wicked Chops also reports that the 60 Minutes piece on AP/UB will NOT air this coming Sunday.

UPDATE #3: Wendeen Eolis in Poker Player Newspaper reports that Mark Seif is leaving Absolute Poker.

3 Comments to “UB Deadline Passes with No Refunds”

  1. DanM

    Kevin, anywhere else on top of the Mark Seif “divorce”?

  2. California Jen

    Mark Seif seems to have a new website, and though he says nothing (yet) about his marriage to or divorce from Absolute, his bio says nothing about AP. http://www.markseif.com/about/

  3. DanM

    Annie Duke says in her wholehearted denial:

    I mean, look, logically why would I stick with UB through everything because of my faith in the management there and then all of a sudden leave like that? I believe in this brand and I believe in the people behind it. Paul Leggett deserves my loyalty and he has it. For life. Period.

    Since Annie’s blog doesn’t have comments — and really I don’t blame her with all the Hatorade out there — I’ll answer her rhetorical question here: Um, you would stick with UB through everything because you have a heavily vested interest in it? Shares that represent more money than you could make at any other site? I don’t know, just guessing …

    From what I hear, Paul Leggett is indeed a stand-up dude doing the best he can to clean up the messes left by the previous administration … but he’s no Barack Obama! Loyalty for life … yeow! Period?!? What if you later discovered Leggett was funneling money from Ante Up for Africa to fund his illegal puppy-killing factory? Strong means weak.