In their latest filings, the United States Department of Justice have confirmed receiving a copy of the Absolute Poker Software platform last week from Quad Dimensions (formerly Panoratech), a software company based in South Korea that had serviced Absolute Poker for several years.
DoJ attorney Jason H. Cowley, who works from the office of US Attorney Preet Bharara in the Black Friday filings, confirmed receiving a copy of the software via US marshals from Quad Dimensions CEO Young Jae “Christian” Lee, along with a declaration by Lee that expressly renounces any Quad Dimensions claim to the software.
The DoJ seeks to be able to sell the software to settle claims against the company by customers of Absolute Poker. The DoJ has provided further clarifications in its rebuttal against “Avoine—Servico de Consultadoria e Marketing” the ownership group behind Absolute Poker, in an effort to reach the goal of reselling the software.
Avoine regained control of the Absolute Poker assets back from Madeira Fjord AS, a related Norwegian shareholder of AP that was forced into bankruptcy after Avoine executed a rescission of contract that transferred control of the AP assets back to Avoine and front group, Blanca Games.
Claims against the assets of the company are too many. Claimants include Avoine, the Norwegian government for an unpaid tax assessment for 300 million kroner against parent company Madeira Fjord, the Commonwealth of Kentucky in connection with Kentucky’s 2008 domain seizure, Madeira Fjord shareholders in connection to promissory notes amounting to $250 million.
If the US government’s claim is approved by Black Friday judge Leonard Sand, the sale would be conducted by the Complex Asset Unit of the US Marshals Service.
Assets of the company include the gaming software and customer mailing lists which could carry some value to prospective buyers. It is very uncertain how much money everything would fetch once expenses related to the sale are covered and if any money will be left to pay players.