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Alpari.co.uk Discussion

  • #3,341
  • Jan 30, 2015 7:14am Jan 30, 2015 7:14am
Q. What does pro-rata mean in regards to distributions? A. Clients are paid distributions in proportion to the value of their claims. For example, if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £, 1) A client with a claim of £100 would receive a distribution of £50; and 2) A client with a claim of £4,000 would receive a distribution of £2,000.

WTF.. 50% only... tell me im wrong please. Lets hope they decide on a bigger figure then 50%
  • #3,342
  • Jan 30, 2015 7:21am Jan 30, 2015 7:21am
Q. What does pro-rata mean in regards to distributions? A. Clients are paid distributions in proportion to the value of their claims. For example, if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £, 1) A client with a claim of £100 would receive a distribution of £50; and 2) A client with a claim of £4,000 would receive a distribution of £2,000.

Wtf??!?!?! i hope not! This is really stupid than i have to pay for others mistakes.
myfxbook: neoxis
  • #3,343
  • Jan 30, 2015 7:25am Jan 30, 2015 7:25am
Quoting ewinner
q. What does pro-rata mean in regards to distributions? A. Clients are paid distributions in proportion to the value of their claims. For example, if the joint special administrators were to declare a distribution rate of 50 pence in the £, 1) a client with a claim of £100 would receive a distribution of £50; and 2) a client with a claim of £4,000 would receive a distribution of £2,000. Wtf.. 50% only... Tell me im wrong please. Lets hope they decide on a bigger figure then 50%
this can't be right guys, so i have £40k and would get back £20k, and they would make to claim the difference from fscs , wtf!!!!
  • #3,344
  • Jan 30, 2015 7:28am Jan 30, 2015 7:28am
Quoting magicpips
{quote} this can't be right guys, so i have £40k and would get back £20k, and they would make to claim the difference from fscs , wtf!!!!
if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £, 1

lets hope they decide on a figure bigger than 50%, its the first time they have mentioned a pro-rata amount!!! no mention of timeframe either..
  • #3,345
  • Jan 30, 2015 7:29am Jan 30, 2015 7:29am
Quoting neoxis
For example, if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £
Its an example to show how the maths works, thats all.
  • #3,346
  • Jan 30, 2015 7:31am Jan 30, 2015 7:31am
Q. Does Alpari (UK) Limited have a client money deficit?
As far as the special administrators are aware, Alpari (UK) Limited does not have a client money deficit, however the special administrators need to reconcile the position before they can confirm this.

Dont get too upset just yet.
If this is right then the distribution rate should be 100 pence in the pound.
Thats how im understanding it but I may be wrong.
They have just given the 50 pence in the pound as an example.
  • #3,347
  • Jan 30, 2015 7:32am Jan 30, 2015 7:32am
Quoting magicpips
{quote} this can't be right guys, so i have £40k and would get back £20k, and they would make to claim the difference from fscs , wtf!!!!

Q. What does pro-rata mean in regards to distributions? A. Clients are paid distributions in proportion to the value of their claims. For example, if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £, 1) A client with a claim of £100 would receive a distribution of £50; and 2) A client with a claim of £4,000 would receive a distribution of £2,000.

its just an example..but if that was the case we would have to claim the 50% loss from the claim department..at least that what i would think
its just an example 50% of the distribution ratio they using to calcalculate what we get back
  • #3,348
  • Jan 30, 2015 7:32am Jan 30, 2015 7:32am
Quoting magicpips
{quote} this can't be right guys, so i have £40k and would get back £20k, and they would make to claim the difference from fscs , wtf!!!!
They are completely fucked up in the brain! Why just they don't give back money to who have a positive balance? and anyway they said there is no deficit in the F.A.Q. from alpari statement. So i don't know what is the problem. This pro-rata is really a stupid thing.
So if no deal will be made it for acquire the company i need to wait 6 months from FSCS if i not have back my whole amount?!?!?!?!
They are really stupids.
And anyway always IF we are able to make a claim to FSCS they can even reject it.

What a mess...
myfxbook: neoxis
  • #3,349
  • Jan 30, 2015 7:32am Jan 30, 2015 7:32am
Sigh. Same information we already knew, just presented in a slightly different way. I like their example but I really hope that there is enough in the segregated accounts to give us at least 80p for every £1 owed to us I worked damn hard to get my trade balance to where it was when Alpari FUBAR'd.
I operate with clear definite rules, if I break them I lose BIG!
  • #3,350
  • Jan 30, 2015 7:35am Jan 30, 2015 7:35am
Quoting eurasian
{quote} Its an example to show how the maths works, thats all.
  • #3,351
  • Jan 30, 2015 7:35am Jan 30, 2015 7:35am
Quoting Icannaesee
Sigh. Same information we already knew, just presented in a slightly different way.
Exactly, no new information really. They are saying the same thing - they believe the client money is ok, but they need to finish working through Alparis accounts to be certain.

They've just included an example this time which has scared people.
  • #3,352
  • Jan 30, 2015 7:36am Jan 30, 2015 7:36am
Quoting eurasian
{quote} Exactly, no new information really. They are saying the same thing - they believe the client money is ok, but they need to finish working through Alparis accounts to be certain. They've just included an example this time which has scared people.
What worries me is the Administration fees they'll charge for returning the money. A rather open ended possibility.
I operate with clear definite rules, if I break them I lose BIG!
  • #3,353
  • Jan 30, 2015 7:38am Jan 30, 2015 7:38am
Quoting Icannaesee
Sigh. Same information we already knew, just presented in a slightly different way. I like their example but I really hope that there is enough in the segregated accounts to give us at least 80p for every £1 owed to us I worked damn hard to get my trade balance to where it was when Alpari FUBAR'd.

lets look at this logically..we get a share of whats put in the pool which is segregated is just another way of saying u get what u put in minus the cost the adminstrators have..it cant mean anything else because this money protected in theory

the shortfall just needs to be claimed back through the claim department but anything linked to kpmg
  • #3,354
  • Jan 30, 2015 7:42am Jan 30, 2015 7:42am
Quoting Icannaesee
{quote} What worries me is the Administration fees they'll charge for returning the money. A rather open ended possibility.

surely this can be claimed because at 4k a day for 1 week is around 200k these motherf*&kers can wipeout the pool quite easily

  • #3,355
  • Jan 30, 2015 7:43am Jan 30, 2015 7:43am
Quoting eurasian
{quote} Exactly, no new information really. They are saying the same thing - they believe the client money is ok, but they need to finish working through Alparis accounts to be certain. They've just included an example this time which has scared people.
I know is just an example we are not stupids. But anyway i not agree with this amministration about our funds..I don't must be forced to pay for others matters. Is not right!
And anyway as they said in the FAQ IT SEEMS THERE IS NOT DEFICIT IN THE COMPANY so there is no sense to introduce this kind of pro-rata basis.
it's a really bad method to handle the problem i don't care if is 100% or 10% is not right we should not to pay for others mistakes at all.
myfxbook: neoxis
  • #3,356
  • Jan 30, 2015 7:46am Jan 30, 2015 7:46am
a 50% refund on positive balances. does it mean to say i was lucky to have lost instead of profiting although i still maintain a positive balance as of 16 Jan. anyway , just need to wait for KPMG to complete their accounts audit work before any further assumptions but this waiting game is killing and even worse than in losing position after orders execution.

now is 2 weeks to that fateful day ,cant help but been thinking kpmg has been rather slow in their audit work or is it that alpari UK were in such horrible mess or that the losses been so massive that KPMG have to come up with latest statement to get clients to get ready for 50% refund or whatever the pro-rated ratio are.
  • #3,357
  • Jan 30, 2015 7:50am Jan 30, 2015 7:50am
This issue is not expected to impact clients who only held cash balances in their account at 9:30am GMT, Thursday, 15 January 2015 and entered no subsequent trades. For this reason we expect to be able to agree such balances more quickly than those affected by this issue.

What they said at above contradicts what they're saying right now.It just doesn't make any sense at all
  • #3,358
  • Jan 30, 2015 7:51am Jan 30, 2015 7:51am
Quoting nAVIN2007
{quote} surely this can be claimed because at 4k a day for 1 week is around 200k these motherf*&kers can wipeout the pool quite easily

How did you get 200k for 1 week?

Anyway, there is somewhere close to 100million in client funds - so I believe, if that is true then I would expect that the charge from KPMG is going to be quite small.
  • #3,359
  • Jan 30, 2015 7:51am Jan 30, 2015 7:51am
Will the Administrators take fees from client funds?
The administrator is not able to use monies held in client segregated accounts to pay their fees without a court order. This would be a court decision and not the decision of the administrators. Any court hearing would be public and creditors and clients would have notice of the hearing and an opportunity to make submissions to the court before any order was granted.

This is how the aussies do it.
FCA take note.
  • #3,360
  • Jan 30, 2015 7:52am Jan 30, 2015 7:52am
Quoting magicpips
This issue is not expected to impact clients who only held cash balances in their account at 9:30am GMT, Thursday, 15 January 2015 and entered no subsequent trades. For this reason we expect to be able to agree such balances more quickly than those affected by this issue. What they said at above contradicts what they're saying right now.It just doesn't make any sense at all
REally man really a lot! They are totally fucked up!! what a mess we are in the hands of these idiots.
myfxbook: neoxis
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