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Alpari.co.uk Discussion

  • #2,141
  • Jan 19, 2015 12:04pm Jan 19, 2015 12:04pm
Quoting panhwar
i dont understand what they mean by this in bold we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity." what will be other arrangements? they should simply return as normal withdrawal happens why other measures?

It means that if the positive account holders are substracted by the negative account holders, as they are in the same segregated pool of funds, there is insufficient funds left to reimburse the positive account holders the matter will be referred to the FCA.

In laymans terms, Alpari will pay you back, IF they have the money, if they don't claim from the government upto 50k
A contrarian; I always disagree.
  • #2,142
  • Jan 19, 2015 12:05pm Jan 19, 2015 12:05pm
http://www.alpari.com/company-news/p...-announcement/
  • #2,143
  • Jan 19, 2015 12:06pm Jan 19, 2015 12:06pm
Quoting Mroue26
{quote} bro.. DUBAI is just an office not a branch... i told them i was introduced to the company by you guys in dubai, why my accounts are in alpari uk.? she said all our accounts are in Alpari UK.. they are not two different or independent from eachother... both are getting the same faith i think.
Ok. Well lets see what happens tommorrow, either they told you nonsense or they didnt, i dont know which way it is, yet.
My signature is: "Classified".
  • #2,144
  • Jan 19, 2015 12:15pm Jan 19, 2015 12:15pm
Check the latest announcement on Alpari site and email to that email address.
  • #2,145
  • Jan 19, 2015 12:18pm Jan 19, 2015 12:18pm
Quoting yaed
{quote} I guess you are correct. Good thinking.

he is...and still the company (correction....administrators) have interest from at least two companies i know of...

its going to be a lengthy process...

because the companies at the end might not want ALL the business but parts of it (for example they might want the whole setup without the trademark)


what i would want to see from the administrators is an email to all of us clarifying whats going on and the process in order for most of the people to get some peace...

because i know everyone hears a lot of things from here and there and dont know what and who to believe (and its understandable)


also clarify the process in case things move on and start looking at money owed to the company.... so people start getting prepared (in case needed)
  • #2,146
  • Jan 19, 2015 12:19pm Jan 19, 2015 12:19pm
New announcement now up on Alpari UK website: http://www.alpari.com/company-news/p...-announcement/
  • #2,147
  • Jan 19, 2015 12:21pm Jan 19, 2015 12:21pm
whats new??

Quoting dambuster
New announcement now up on Alpari UK website: http://www.alpari.com/company-news/p...-announcement/
  • #2,148
  • Jan 19, 2015 12:22pm Jan 19, 2015 12:22pm
"Alpari’s Hobbled U.K. Unit Unable to Find Buyer After Franc Rout"

http://www.bloomberg.com/news/2015-0...ranc-rout.html
  • #2,149
  • Jan 19, 2015 12:22pm Jan 19, 2015 12:22pm
Special Administrators appointed to Alpari (UK) Ltd
Upon the application of the directors of Alpari (UK) Ltd, on Monday 19 January 2015, the High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd, under the Special Administration Regime (SAR). Alpari (UK) Ltd is a company incorporated in the UK.
Alpari (UK) Ltd applied for insolvency on Monday 19 January 2015 following the decision on Thursday 15 January 2015 by the Swiss National Bank to remove the informal peg to the euro at around 1.20 Swiss francs. The announcement by the SNB prompted volatility across the foreign exchange markets which saw the company and many of its clients make large losses. After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful.
We have had a number of enquiries from interested parties in relation to the company's business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible.

For all queries, please contact:
[email protected]

The administrators will endeavour to respond to your query as soon as possible.
  • #2,150
  • Jan 19, 2015 12:23pm Jan 19, 2015 12:23pm
Special Administrators appointed to Alpari (UK) Ltd
Upon the application of the directors of Alpari (UK) Ltd, on Monday 19 January 2015, the High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd, under the Special Administration Regime (SAR). Alpari (UK) Ltd is a company incorporated in the UK.
Alpari (UK) Ltd applied for insolvency on Monday 19 January 2015 following the decision on Thursday 15 January 2015 by the Swiss National Bank to remove the informal peg to the euro at around 1.20 Swiss francs. The announcement by the SNB prompted volatility across the foreign exchange markets which saw the company and many of its clients make large losses. After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful.
We have had a number of enquiries from interested parties in relation to the company's business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible.

For all queries, please contact:
[email protected]

The administrators will endeavour to respond to your query as soon as possible.
  • #2,151
  • Jan 19, 2015 12:35pm Jan 19, 2015 12:35pm
A kind request to all members please try and don't paste the same info which in some cases has been posted just above you.
  • #2,152
  • Jan 19, 2015 12:36pm Jan 19, 2015 12:36pm
Some information from Wall Street Journal

Alpari Applies for Insolvency as Potential Buyers Circle



SYDNEY—Potential suitors are circling retail broker Alpari (U.K.) Ltd., which applied for insolvency Monday after being battered by the surge in the Swiss franc last week.
The Australian online currency trader Pepperstone Financial Services said Alpari is a potential acquisition target. Meanwhile, U.K. financial spread-betting firm IG Group Holdings PLC is considering bidding for assets belonging to Alpari, although isn’t considering buying the whole firm, according to a person familiar with the matter.
“The board of directors are urgently considering all options including a sale,” Alpari said in a statement over the weekend

Alpari, which is based in London, said the move by the Swiss central bank to free up its currency led to “exceptional” volatility and lack of liquidity. Phone lines at the company weren’t being answered on Monday, and a message directed callers to the statement.

Monday, KPMG LLP was appointed as the administrator for Alpari. “Following the announcement by the SNB last week, Alpari sustained substantial losses as a result of negative client balances, and was faced with no other choice but to enter into special administration,” said Richard Heis, a partner at KPMG. “We have had a number of enquiries from interested parties in relation to the company’s business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible,” he added.
The firm employs 170 people.

Alpari “is something we are looking very strongly at,” Owen Kerr, co-founder of Pepperstone, told The Wall Street Journal.

http://www.wsj.com/articles/pepperst...oil-1421643906
.
  • #2,153
  • Jan 19, 2015 12:51pm Jan 19, 2015 12:51pm
What amount will be returned? Considering they cant pay the negative balances they
obviously cant pay those who made profit either.They(i.e. ones who made profit for sure
maybe even loss) can probably claim through fscs.
Another scenario,is the segregated funds could be the amount held in the a/c before the
chf fiasco.In that case the amounts returned could be pre 15 jan 8am GMT or earlier.
  • #2,154
  • Jan 19, 2015 12:51pm Jan 19, 2015 12:51pm
Quoting SyedKaleem
Special Administrators appointed to Alpari (UK) Ltd Upon the application of the directors of Alpari (UK) Ltd, on Monday 19 January 2015, the High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd, under the Special Administration Regime (SAR). Alpari (UK) Ltd is a company incorporated in the UK. Alpari (UK) Ltd applied for insolvency on Monday 19 January 2015 following the decision on Thursday 15 January 2015 by the Swiss National Bank to remove the informal peg to the euro...

I have emailed the administrator asking about the retrieval of clients money.

i will reply to this thread when I hear back from them.
  • #2,155
  • Jan 19, 2015 12:54pm Jan 19, 2015 12:54pm
Quoting KGP
{quote} because i know everyone hears a lot of things from here and there and dont know what and who to believe (and its understandable)
Yupp. I try to stick to what IS happening. Not anything so far. We can speculate all we want, probably its just going to get us a headache.
My signature is: "Classified".
  • #2,156
  • Jan 19, 2015 12:55pm Jan 19, 2015 12:55pm
all we will get from the last update is an email that will reply to us by a automated message.
  • #2,157
  • Jan 19, 2015 12:55pm Jan 19, 2015 12:55pm
Quoting dambuster
New announcement now up on Alpari UK website: http://www.alpari.com/company-news/p...-announcement/
I think you are the fourth person saying that about the same thing.
My signature is: "Classified".
  • #2,158
  • Jan 19, 2015 12:58pm Jan 19, 2015 12:58pm
Quoting verv
{quote} I have emailed the administrator asking about the retrieval of clients money. i will reply to this thread when I hear back from them.
Well OK, no point in all of us sending the same e-mail then.
My signature is: "Classified".
  • #2,159
  • Jan 19, 2015 1:05pm Jan 19, 2015 1:05pm
if its the only way to get our money back... through this > https://www.insolvency-kpmg.co.uk/ca...F119D1101.html
then its gonna be a big fucking headache to get all these proofs
  • #2,160
  • Jan 19, 2015 1:08pm Jan 19, 2015 1:08pm
people

segregated funds are NOT P/L accounts

are bank accounts... with funds placed from each and everyone.

i am not going to put it in a correct way but in a very simplified way
example
if i place 100eur in a segregated account this way when i invest 90eur they will "get" to the market (only those 90eur) and then when i will earn 10eur the 10eur will be added to my account + the capital so i have 110 eur in my account

if someone has invested all its capital (lets say ) 100eur and loses 101eur (due to reasons like slippage) this will NOT be taken from my account balance but his (lets say) "ad hoc" balance will be turned negative and he will be requested to pay the rest 1eur in order to have a 0 balance.

so the 95mil accounts are of those in positive. which can "not be touched"

as long as they are there as the "paperwork" shows (and we have no doubt about that....so far of course)


very simplistic because those type of accounts are not so simple on how they operate
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