Phil Ivey Sues Full Tilt as Company Faces Major Challenges

Full Tilt Poker is navigating through a tumultuous period following the events of Black Friday. The company is actively seeking investors to help mitigate the fallout, but many potential investors are hesitant due to political concerns. Phil Ivey, a prominent figure in the poker world, recently met with Full Tilt's top management in Dublin. Despite these efforts, disagreements have arisen, particularly over control of the company, leading Phil Ivey to file a lawsuit against Full Tilt.

According to reports, an unnamed company was willing to provide funds to settle debts with American players and help Full Tilt maintain its online presence. However, the offer came with a demand for full control over the company, which was rejected by Full Tilt's leadership. This rejection reportedly angered Phil Ivey, prompting his legal action.

Adding to Full Tilt's challenges, its partnership with Moneybookers is under threat. Moneybookers, which was the primary payment system for Full Tilt players outside the U.S., has been facing financial losses due to issues with withdrawals post Black Friday. If the problems are not resolved soon, Moneybookers may completely sever ties with Full Tilt. Despite these setbacks, Full Tilt continues to hold the second-largest position among global poker sites, according to PokerScout.