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Settlement Reached in Mike Postle Involuntary Bankruptcy Case

Settlement Reached in Mike Postle Involuntary Bankruptcy Case

09:35
12 Jan

Mike Postle’s involuntary bankruptcy case has been dismissed after a confidential settlement was reached with Veronica Brill and Todd Witteles, bringing an end to the long-running legal saga.

Brill and Witteles instigated the bankruptcy proceedings after alleged cheat Postle failed to pay more than $50k in legal costs after the pair brought an anti-SLAPP lawsuit against the Sacramento-based pro.

Brill, the whistleblower in the case known as “Postlegate” and which has gripped the poker world for more than two years, was awarded $27,745, while Witteles was awarded $26,982.

These judgments followed Postle’s voluntary withdrawal of a $330million defamation lawsuit which had named Brill, Witteles and ten others, including Daniel Negreanu and Doug Polk.

Bankruptcy case dismissed

This week it has been reported that “a series of negotiations and discussions” had taken place over the past couple of months involving the main players in the bankruptcy case.

Haley Hintze, who produced some of the extensive PokerTube coverage of the Postlegate scandal, has revealed on Poker.org that a “confidential settlement was reached”, in mid-December 2021, “in exchange for Brill and Witteles dropping their petition against Postle.”

The agreement was reportedly signed by Brill’s lawyer, Marc Randazza, and Witteles’ counsel, Eric Bensamochan, as well as Yasha Rahimzadeh, representing Postle.

Postle had been fighting for several months to have the involuntary bankruptcy petition rejected.

At one point he claimed that among his $270,000 debts owed to 25 separate creditors was $82,113 owed to his own mother, who helped to fund his legal battle with ex-wife, Sabina Johnson.

Johnson added fuel to the Postlegate fire last summer when she gave an interview to Brill, revealing Postle’s previous alleged scams and his history of domestic abuse.

The number of creditors Postle owed was a potential stumbling block for the bankruptcy proceedings to go ahead, Haley Hintze pointing out the “numerosity” clause in the federal bankruptcy code.

Postle’s lawyer had raised this clause, claiming that at least three creditors were required to raise the action, with Brill and Witteles clearly numbering only two.

That point was rendered moot when the settlement was agreed last month, though it was only docketed last Friday, January 7th, Postle himself reportedly only signing it on December 27th.
As reported, the key clauses in the agreement read:

"WHEREAS, in order to avoid further time and expense, the Parties have decided to resolve their differences and reach an end, compromise, and settlement of all disputes now and potentially existing between them in this Involuntary Bankruptcy; and
WHEREAS, the Parties have entered into a confidential settlement agreement that resolves their differences in this Case."

The agreement will likely become official on February 9th when a hearing has been set to finalise the original bankruptcy petition’s dismissal.

It appears that this will finally bring the legal elements of the Postlegate scandal to an end, although the ifs and hows of the alleged cheating will continue to dominate the darker side of poker for many years to come.

If you have missed out on any of the drama surrounding Postle you can catch up below!

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