Ultimate bet and Absolute poker filing for bankrupcy

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    • #24259
      Jake Witcher

      People here who have dollar on Ub or AP shoudl give very very serious consideration to getting the money out asap.

      more on this subject : http://www.pokernews.com/news/2011/05/ub-absolute-poker-to-file-bankruptcy-10337.htm

      just to add to this,, below is the ‘Alleged’ email circulated to the staff in Costa Rica regarding the redundacys,, i however cannot vouch for its authenticity.

      To: All Staff
      From: The Executive Management Team
      Date: Monday, May 2, 2011
      Re: Restructuring
      As all of you are aware, action was taken by the U.S. Department of Justice on April 15th and we have closed our US-facing operations. We now have to focus our resources on developing our non-US operations and software business. Unfortunately, this also means we must immediately restructure our organization and significantly downsize our operations.

      It is a very sad day for all of us, as we have worked so hard to create a truly amazing company that is filled with extraordinary people. We have always been and remain fully committed to the employees and consultants of this business.

      TBT employees will be paid full liquidations in accordance with Costa Rican labor laws. Consultants will be paid severance based on length of service. IDS liquidations have been previously funded in full to Olman Rimola.

      Some of you will be approached by the business for a new role with a much smaller company that is focused on continuing our non-US operations and software businesses.

      HR or direct managers will initiate individual meetings with everyone to provide full details, and we hope to get through all of these over the next few days.

      Today’s decision has not been made lightly, or in haste. It comes after considerable review from all angles of the impact Black Friday has had on the business as a whole. We are disappointed that events of the past two weeks have effectively forced us to take this action, with downsizing of the business now unavoidable.

      We ask that all of you work from home tomorrow and you will be updated with new work arrangements soon.

      It truly has been a pleasure working with all of you. We thank you for the significant time and dedication you’ve all shared with us over the years and wish you all the best in your future endeavors.

    • #30417

      This is sad news..

    • #30421
      Jake Witcher

      and some more updates, they have increased withdrawl limits now for non us players, but this whole situation smells rotten to me.


    • #24260

      UB network has always been cheat…

      “what goes around comes around”

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