Hi I am back on this thread to calm down after an idiot totally spoilt the last thread i was on. I am up in the city on tuesday visiting a number of brokers and financial companies. Some of these people will have the latest on this from their contacts in Alpari on what is currently happening. I will let you know if I find any helpful information.
Missluna1982 what a great idea, i would like to be part of this. The FSCS process mind is very fast they state often within 1 week if the company has gone bust and is FCA regulated you will get your money so once KPMG have finalised your claim then any remaining can be claimed quickly with them if you didnt get all you were owed. The FSCS will already be aware of this anyway through the FCA.
terriegym
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Please sign petition http://leaprate.com/Zh2N1
Hi Pat
There was a form originally which people had to fill out. I do still have a copy of this and the links if needed. I sent this a few days after then liquidators were appointed. i have heard nothing since. There is information also provided that they are building an online portal for people ready for them to claim online. It will take quite a few weeks to design and write the software so dont expect anything to happen too quickly. One thing that has been very poor is the lack of information KPMG have give to clients it amounts to pretty much nothing. It is quite unbelievable the FCA have let them get away with it.
There was a form originally which people had to fill out. I do still have a copy of this and the links if needed. I sent this a few days after then liquidators were appointed. i have heard nothing since. There is information also provided that they are building an online portal for people ready for them to claim online. It will take quite a few weeks to design and write the software so dont expect anything to happen too quickly. One thing that has been very poor is the lack of information KPMG have give to clients it amounts to pretty much nothing. It is quite unbelievable the FCA have let them get away with it.
Demark Trader
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Hi All, I was only holding 10% of my trading capital in my Alpari account so its not much of an issue for me to wait out a reasonable period of time. but the lesson I learned is to have multiple broker accounts so my trading isn't interrupted. Its been a right pain finding another broker for my needs but thankfully I didn't have a CHF trade on at the time.
terriegym
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where did this form come from? can you send me the link please?
Pat494
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Which one did you decide on ?
I was looking at IronFX but then it transpires that they are sacking loads of employees ! Not a good sign plus I have doubts about the Cyprus/Greek brokers now.
Demark Trader
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I went with Activtrades for now and I'm thinking Oanda for the second. I need to use metatrader 4 & 5 so with those two it works out ok. Both of these brokers have forgiven negative balances which I think is important going forward.
Q: If I am eligible to use the client portal how will the payment mechanism work
for claims?
A: Eligible Clients may receive payments in one of two ways. (1) If you are eligible
for compensation from the FSCS and you decide to assign your claim to the FSCS,
then the FSCS will advise you on payment mechanisms separately from the Joint
Special Administrators. (2) If you decide not to assign your claim to the FSCS, or you
are not eligible for compensation from the FSCS, then payments will be made by bank
transfer at the appropriate time. You will be able to confirm your bank details via the
online Claims Portal.
How to decide which one ?
for claims?
A: Eligible Clients may receive payments in one of two ways. (1) If you are eligible
for compensation from the FSCS and you decide to assign your claim to the FSCS,
then the FSCS will advise you on payment mechanisms separately from the Joint
Special Administrators. (2) If you decide not to assign your claim to the FSCS, or you
are not eligible for compensation from the FSCS, then payments will be made by bank
transfer at the appropriate time. You will be able to confirm your bank details via the
online Claims Portal.
How to decide which one ?
spinola
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Option 2 , if they will settle the full balance due on your account.
Demark Trader
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https://gallery.mailchimp.com/5c70f68b2b53b98f4f5237e7b/files/Alpari_UK_Limited_Information_Pack.pdf
terriegym
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just got this email through-------
This email contains important information.
Dear Sir/Madam
Alpari (UK) Limited – in Special Administration (the ‘Company’)
Joint Special Administrators – Samantha Bewick, Richard Heis and Mark Firmin
The proposals for the special administration are available to view and download at www.kpmg.com/uk/alpari.
We are convening a meeting of creditors and clients in order to seek approval of our proposals and to decide whether to establish a Creditors’ Committee comprising representatives of creditors and clients. The meeting will be held at Central Hall Westminster, Storey’s Gate, London, SW1H 9NH on 12 March 2015 at 11:00am.
In view of the large number of clients and creditors, in accordance with Rule 297 of The Investment Bank Special Administration (England and Wales) Rules 2011, certain statutory documents are being made available electronically. The following documents can be viewed and downloaded from www.kpmg.com/uk/alpari (“the Website”):
The Joint Special Administrators’ Proposals;
Formal notice convening the meeting of creditors and clients;
Retail Client statement of claim form;
Retail Client proxy form;
Creditor and Introducing Broker statement of claim form;
Professional Client statement of claim form; and
Creditor, Professional Client and Introducing Broker proxy form.
(together “the Documents”).
If you require a hard copy of the Documents, please:
Telephone +44 (0) 333 202 1397;
Email [email protected];
Write to: Alpari (UK) Limited (in Special Administration), c/o KPMG LLP, 8 Salisbury Square, London, EC4Y 8BB.
In order to vote, clients and creditors must have either submitted a statement of claim form or, if access has been allowed, agreed their balance(s) on the Claims Portal (see details below). This must be received by 12 noon on 11 March 2015 in order to be counted.
The Special Administrators will be sending the majority of clients (who had cash balances at 9.00 GMT on 15 January 2015 and entered no further trades) an email over the coming days with access details to the Claims Portal. This will allow those clients to view their statement as at 19 January 2015. A client’s agreement to their claim in the Claims Portal will be accepted for both voting purposes at the Initial Meeting (therefore there is no need for those clients to submit a statement of claim) and any distribution(s) from the Special Administration.
For those clients who have not received an email and do not have access to the Claims Portal, claimants will be permitted to submit claims on an estimated basis which may include the last statement that you received. Please note that submitting an estimated claim for voting purposes is not an agreement of your claim for any other purpose. If you are unable to determine your claim value with any certainty, the Special Administrators request that you submit an estimated claim for voting purposes and submit a formal claim for distribution purposes at a later date.
If you submit a statement of claim and then agree your claim via the Claims Portal prior to 12.00 noon on 11 March 2015, please note that your agreement to your claim in the Claims Portal will supersede your statement of claim. Your agreement to your claim in the Claims Portal will then be used for both voting purposes at the Initial Meeting and any distribution(s) from the Special Administration.
Any proxies that are intended to be used must be submitted to me by the date of the meeting. Please refer to Appendix 6 of the proposals, being further information regarding the initial meeting of clients and creditors and the voting process as well as for assistance regarding completion of the relevant claim and proxy form.
For further information regarding the Documents, please see the frequently asked questions on the Website. If you have any queries, please contact us using the details given above.
Yours faithfully
For Alpari (UK) Limited – in Special Administration
Samantha Bewick
Joint Special Administrator
i wish they'd speak english, im not sure what it all means. do we submit form then be able to use portal?
This email contains important information.
Dear Sir/Madam
Alpari (UK) Limited – in Special Administration (the ‘Company’)
Joint Special Administrators – Samantha Bewick, Richard Heis and Mark Firmin
The proposals for the special administration are available to view and download at www.kpmg.com/uk/alpari.
We are convening a meeting of creditors and clients in order to seek approval of our proposals and to decide whether to establish a Creditors’ Committee comprising representatives of creditors and clients. The meeting will be held at Central Hall Westminster, Storey’s Gate, London, SW1H 9NH on 12 March 2015 at 11:00am.
In view of the large number of clients and creditors, in accordance with Rule 297 of The Investment Bank Special Administration (England and Wales) Rules 2011, certain statutory documents are being made available electronically. The following documents can be viewed and downloaded from www.kpmg.com/uk/alpari (“the Website”):
The Joint Special Administrators’ Proposals;
Formal notice convening the meeting of creditors and clients;
Retail Client statement of claim form;
Retail Client proxy form;
Creditor and Introducing Broker statement of claim form;
Professional Client statement of claim form; and
Creditor, Professional Client and Introducing Broker proxy form.
(together “the Documents”).
If you require a hard copy of the Documents, please:
Telephone +44 (0) 333 202 1397;
Email [email protected];
Write to: Alpari (UK) Limited (in Special Administration), c/o KPMG LLP, 8 Salisbury Square, London, EC4Y 8BB.
In order to vote, clients and creditors must have either submitted a statement of claim form or, if access has been allowed, agreed their balance(s) on the Claims Portal (see details below). This must be received by 12 noon on 11 March 2015 in order to be counted.
The Special Administrators will be sending the majority of clients (who had cash balances at 9.00 GMT on 15 January 2015 and entered no further trades) an email over the coming days with access details to the Claims Portal. This will allow those clients to view their statement as at 19 January 2015. A client’s agreement to their claim in the Claims Portal will be accepted for both voting purposes at the Initial Meeting (therefore there is no need for those clients to submit a statement of claim) and any distribution(s) from the Special Administration.
For those clients who have not received an email and do not have access to the Claims Portal, claimants will be permitted to submit claims on an estimated basis which may include the last statement that you received. Please note that submitting an estimated claim for voting purposes is not an agreement of your claim for any other purpose. If you are unable to determine your claim value with any certainty, the Special Administrators request that you submit an estimated claim for voting purposes and submit a formal claim for distribution purposes at a later date.
If you submit a statement of claim and then agree your claim via the Claims Portal prior to 12.00 noon on 11 March 2015, please note that your agreement to your claim in the Claims Portal will supersede your statement of claim. Your agreement to your claim in the Claims Portal will then be used for both voting purposes at the Initial Meeting and any distribution(s) from the Special Administration.
Any proxies that are intended to be used must be submitted to me by the date of the meeting. Please refer to Appendix 6 of the proposals, being further information regarding the initial meeting of clients and creditors and the voting process as well as for assistance regarding completion of the relevant claim and proxy form.
For further information regarding the Documents, please see the frequently asked questions on the Website. If you have any queries, please contact us using the details given above.
Yours faithfully
For Alpari (UK) Limited – in Special Administration
Samantha Bewick
Joint Special Administrator
i wish they'd speak english, im not sure what it all means. do we submit form then be able to use portal?
ChattiFX
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Received my email to access the claims portal today. Logged on and the balance is exactly as I thought it should be. I had open positions when they popped so was fearing the worst...
Strangely even though I am agreeing with the amount they have advised it states it may be quicker to apply for this through the FSCS... so that is what I am doing...
Painfully slow but at least it is moving forward...
Strangely even though I am agreeing with the amount they have advised it states it may be quicker to apply for this through the FSCS... so that is what I am doing...
Painfully slow but at least it is moving forward...
