Administrators Hired by PKR as Company Files Bankruptcy

Just a few days ago, the news broke that online poker room PKR had shut down and was no longer accessible on the MPN Network. The company reportedly asked to be suspended from the network due to financial difficulties. It seems now, PKR is filing for bankruptcy and has hired administrators to facilitate their financials as the bankruptcy process begins.

PKR has informed the public that RSM Restructuring Advisory LLP has been hired with David R Taylor and Matthew RM Wild acting as PKR Technologies administrators as the company officially files for bankruptcy. Creditors as well as concerned individuals, i.e. poker players, have been urged by PKR to contact the administrators via email to learn more. The email provided by PKR is pkr.restructuring@rsmuk.com.

When visiting PKR over the past few days, within the time frame of the shutdown announcement, little information was provided. Now the site offers info on the administrators stating they were appointed by the High Court, Chancery Division on the 11th of this month. The site states that the Joint Administrators along with their staff will work to reply to all email queries as soon as ‘reasonably practicable’ but due to the high volume of emails anticipated, the responses will most likely be delayed.

The PKR site further states that any further updates will be posted on the site when available and the affairs, business and property of the company is now being managed by the Joint Administrators, Mr. Taylor and Mr. Wild, who are acting as agents of the company and without personal liability in the matter.

So now, we wait and see how players are approached with responses from the administrators and if any information is provided in the future. One could expect the process to be slow going but we will update with any info as it is revealed by PKR, players or the new administrators.

 

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