Good day everyone from Panama City.
Since my arrival this morning I have been gathering information to understand how to get players paid and what is holding up the release of the bond.
Ironically Betpanam’s headquarters are located across the street from the Gaming Commission.
Here is what I have to report:
The bond exists;
Relevant instructions to release the bond have been authorized by the Gaming Board before mid March;
President of the Gaming Board is the Minister of Finance of Panama;
Betpanam’s officials have asked the Gaming Board (Higher than the commission) to withhold the decision to disperse the bond as they were planning to pay players;
This plea coincided with the initial notification received by some players who’s funds where being held due to their accounts being investigated (stall practice);
To keep decision on hold Betpanam has been making sporadic payments, making sure to report them to the authorities to prove their “good will”;
I have then dropped by the office of the Minister of Finance and provided all information in my possess. I am waiting to be received by the Minister, hopefully tomorrow.
Elections are getting close here in Panama. I kindly dropped the note that if I will not be given the chance to speak to the Minister directly I will speak to him through the local media.
I shall also report that I have a chance to speak to Ms Lizi Rose. She is a very polite and charming young lawyer. We have discussed the filing after having withdrawn the claim.
We have understood each other and she has forgiven me by accepting my sincere apologies for reporting incorrect information since she understands why I picked my version during our phone conversation.
In fact players may file once again in case of Betpanam’s non compliance to proposed agreement. However it is also true that the timing ( 30 days ) applies once more, diluting the claim’s redemption of several weeks.
Players are free to :
1) Accept Betpanam’s deal ( keeping in mind that they may file their claim once again after non payment of second installment
Or
2) Maintain their claim. This will prioritize the payout coming from the bond.
I have other meeting scheduled later today awaiting the Minister of Finance response. If negative a press conference will be held tomorrow afternoon.
This is all for the time being from Panama City, Republic of Panama.
Roberto
Since my arrival this morning I have been gathering information to understand how to get players paid and what is holding up the release of the bond.
Ironically Betpanam’s headquarters are located across the street from the Gaming Commission.
Here is what I have to report:
The bond exists;
Relevant instructions to release the bond have been authorized by the Gaming Board before mid March;
President of the Gaming Board is the Minister of Finance of Panama;
Betpanam’s officials have asked the Gaming Board (Higher than the commission) to withhold the decision to disperse the bond as they were planning to pay players;
This plea coincided with the initial notification received by some players who’s funds where being held due to their accounts being investigated (stall practice);
To keep decision on hold Betpanam has been making sporadic payments, making sure to report them to the authorities to prove their “good will”;
I have then dropped by the office of the Minister of Finance and provided all information in my possess. I am waiting to be received by the Minister, hopefully tomorrow.
Elections are getting close here in Panama. I kindly dropped the note that if I will not be given the chance to speak to the Minister directly I will speak to him through the local media.
I shall also report that I have a chance to speak to Ms Lizi Rose. She is a very polite and charming young lawyer. We have discussed the filing after having withdrawn the claim.
We have understood each other and she has forgiven me by accepting my sincere apologies for reporting incorrect information since she understands why I picked my version during our phone conversation.
In fact players may file once again in case of Betpanam’s non compliance to proposed agreement. However it is also true that the timing ( 30 days ) applies once more, diluting the claim’s redemption of several weeks.
Players are free to :
1) Accept Betpanam’s deal ( keeping in mind that they may file their claim once again after non payment of second installment
Or
2) Maintain their claim. This will prioritize the payout coming from the bond.
I have other meeting scheduled later today awaiting the Minister of Finance response. If negative a press conference will be held tomorrow afternoon.
This is all for the time being from Panama City, Republic of Panama.
Roberto
