Clint Canning, CEO of FX World, a British based managed account provider that went bankrupt and is now the subject of a fraud investigation by City of London Police, has been director of seven failed companies
Read MoreTag: bankrupt
Alfa Trade UK ceases trading with immediate effect – LeapRate Exclusive
Alfa Trade UK has ceased trading with effect from today, and clients have been asked to close their positions by July 21 at midday
Read MoreAdministrators for insolvent LQD Markets finalize their presentation to the FSCS
Baker Tilly has confirmed today that it understands that this information has been reviewed by the case team at the FSCS and that the case has now been passed to the FSCS’ legal team to decide which products (if any) that were offered by the company, are covered under the compensation scheme
Read MoreBitcoin Foundation about to go belly-up, says board member
“Since the beginning, the Foundation has been sorely lacking any transparency of its actions. I can no longer in good conscience hide the truth on what I have witnessed in the Bitcoin Foundation since I was elected last month” – Olivier Janssens, Bitcoin Foundation
Read MoreKPMG releases full Joint Special Administrators’ Proposals relating to Alpari UK – dissolution looms
The proposal by KPMG states that the most likely exit route will be dissolution, and proposes that the possible formation of a creditors committee should be discussed at the clients and creditors meeting on March 12. Meanwhile, the vacation of premises and sale of equipment is being documented by KPMG
Read MoreKPMG issues update regarding Alpari UK insolvency: Clients and creditors meeting to be held on March 12
Client money pools and the ability to make a claim via a claims portal which will be available for the first tranche of clients to agree the balances of their accounts by 6 March 2015 are subjects to be discussed at the Clients and Creditors Meeting, scheduled for March 12, 2015
Read MoreBaker Tilly publishes FAQs relating to LQD Markets administration
Baker Tilly has produced a publicly available document containing frequently asked questions and their respective answers relating to the insolvency of LQD Markets following the black swan event involving the removal of the 1.20 peg on EURCHF by the Swiss National Bank
Read MoreOfficial bankruptcy proceedings begin against MtGox parent company Tibanne
In February 2014, Japanese Bitcoin exchange MtGox went bankrupt after 750,000 Bitcoins went missing from secure wallets. Almost one year later, MtGox’s parent company Tibanne has now become bankrupt, with confirmation having been issued by attorney and bankruptcy trustee Nobuaki Kobayashi
Read MoreInsolvent FX firm Excel Markets confirms that it has returned 96% of client funds, winds up operations
As of today, 27 Jan 2015, 96% of client funds have been sent back to clients and the remainder await withdrawal requests. The Financial Markets Authority of New Zealand has worked closely with GBL since the incident to ensure client funds were being safely returned
Read MoreIt’s official. The end of the road for Boston Prime
As a result of the severe volatility in the currency markets on January 15 this year, the day in which the Swiss National Bank removed the 1.20 peg on EURCHF, another casualty has been claimed, this time Boston Prime
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