KPMG to pay dividend of 14p per pound to unsecured creditors of Alpari UK

There is one more update from KPMG, the Joint Special Administrators (JSAs) of Alpari UK, the broker that went insolvent following the Swiss franc spike on January 15, 2015…

The latest update was published on Thursday, December 3, 2015, and concerns compensation payments to unsecured creditors of the broker.

When posting their First Progress Report on the Alpari UK case in August, the JSAs stated their intentions to pay a dividend to unsecured creditors. The latest update says that the size of the interim dividend is 14p per GBP (pound) and that distribution will be made by cheque soon.

The distribution will cover unsecured creditors who had their claims agreed with KPMG before November 20, 2015. However, The JSAs will not be paying the Interim Unsecured Creditor Dividend to creditors with a distributable amount of GBP 100 or less i.e. creditors with a claim value of GBP 714.29 or less.

KPMG asks creditors to wait until December 11, 2015, before making any queries regarding the payments.

Earlier this week, KPMG said that preferential creditors will have their claims fully paid.

To view the full text of the latest update from KPMG, click here.

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