Dan Cates has a legal issue with the WSOP garnishing Phil Ivey’s winnings
Cates has filed a legal brief over the WSOP decision
When Phil Ivey appeared at this past summer’s WSOP series, it proved to be a bittersweet experience.
He didn’t have a great run during the tournaments, but still managed to pull down $124,410 when it took eighth place at the Poker Players Championship (PPC). However, he never saw any of it following a WSOP decision to give it to the Borgata in New Jersey to try to settle Ivey’s debt with the casino. Now, Dan Cates and another poker pro have spoken up, filing a legal objection to the decision since it affects them directly.
Cates, better known as Jungleman, and Illya Trincher filed their objection because they both had backed Ivey for the game. According to the staking arrangement, they put up the entire $50,000 buy-in and, with winnings in excess of that amount, they were entitled to receive the buy-in, as well as 50% of the remaining amount. However, since the WSOP never turned the money over to Ivey, they are unable to collect.
The case gets sticky because, as the poker pros’ attorney puts it, Cates and Trincher are the legal owners of the money that resulted from the arrangement. That attorney is Richard A. Schonfeld of the Chesnoff and Schonfeld firm, a well-connected law firm out of Las Vegas that also happens to represent Ivey.
Things could get interesting from here. The Borgata will certainly argue that Ivey knew of the injunction it had placed on his winnings and, as such, the staking agreement should be nullified. On the other hand, if a judge determines that Cates and Trincher have properly pleased their case, it could set an incredibly monstrous precedent that would see many players setting up deals to try and keep their winnings out of the spotlight.