The KGC statement indicated that Blanca Game, the parent company of Absolute Poker and Ultimate Bet, has been preparing a proposal for the DOJ over the last several week that would liquidate the company assets in an effort to distribute funds back to US and non-US players owed money.
The KGC has been involved in the regular discussions and that a potential solution has been officially submitted to the DOJ for consideration and approval.
The timing of the KGC announcement is interesting in that Blanca faced a October 31 deadline to file a claim for assets seized by the DOJ.
Most poker players and affiliates had long ago given up hope that any funds would be returned as offices shut down, were moved, and the player traffic and limits on withdrawals reduced down to almost nothing. It would appear that the proposal would involve the DOJ returning seized Blanca funds to allow for redistribution to player in lieu of complete confiscation of funds.
