Players that lost money on Tusk Investment skins will be pleased to hear that their liquidators intend paying between $.13 and $.16 on the dollar for all balances owed to them.
Vendors, player balances and others that are owed money by the company that went into liquidation in 2008 have until 5th June, 2013 to file a claim by sending an email to tusk@ppbadadvisory.com enclosing their personal information and proof of the debt. The Proof of Debt form can be found on page 8 of the release made by PPB Advisory, who are Trust Investment’s liquidator and includes screenshots of balance screens or other documentation to support their claim.
Tusk Investment’s Microgaming casino and poker operations were closed on 27th February, 2008 as a result of Microgaming revoking its license to operate its software. Two weeks before the company ceased operating, eCOGRA, the oversight board, suspended Tusk Investment’s seal of approval. Tusk Investments entered liquidation on 6th March, 2008.
Twenty eight micro skins were licensed by Tusk Investments which included Red Nines, Royal Card Club, Battlefield Poker and Arctic Poker, some of which were owned by rakeback affiliates which included the now inoperative Rake Reduction.
Microgaming had been investigating Tusk Investments for violating the network’s 30% rakeback cap and the issue had been brewing between them for months which probably resulted in Microgaming revoking the network’s license. Tusk had no option but to enter liquidation after having a shortfall of cash and no platform to operate on.
The liquidator for Tusk Investments has revealed that although there are 3,158 known creditors, only 358 Proof of Debt forms have so far been successfully submitted.
