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  • #3,881
  • Feb 7, 2015 7:59am Feb 7, 2015 7:59am
Quoting ziggy25
{quote} Unfortunately according to the client agreement (that everybody has agreed to) they reserve the right to do that if a "Force Majeure Event" exists (i.e an event or occurrence that prevents the Company from maintaining an orderly market in one or more of the Instruments). See clause 27 of the Alpari client agreement - http://static.alpari.co.uk/docs/alpa...direct_pro.pdf I am no expert in these matters but i suspect clause 27 will pretty much clear them of any wrong doing in closing the trades.
That's my fear too.

Still it is to question if their client agreement is in compliance with the law in full, or not.
Even if only some clauses don't comply, it might still void the whole agreement.

Imho their clause 27b is formulated much too broad / generic.

Because the way it is worded it basically enables them to claim any kind of unusual market situation to be a Force Majeure event.
They've just left a big backdoor open for them to sneak out of business and leave their liabilities behind them.

But I say: "No way, Jose!" lol.
But i'm not a lawyer.

That's why we need legal advice to not get fooled.

I've voiced some of my concerns in the thread overhere ...
  • #3,882
  • Feb 7, 2015 8:26am Feb 7, 2015 8:26am
Quoting Mystique
{quote} That's my fear too. Still it is to question if their client agreement is in compliance with the law in full, or not. Even if only some clauses don't comply, it might still void the whole agreement. Imho their clause 27b is formulated much too broad / generic. Because the way it is worded it basically enables them to claim any kind of unusual market situation to be a Force Majeure event. They've just left a big backdoor open for them to sneak out of business and leave their liabilities behind them. But I say: "No way, Jose!" lol....
Force majeur is a catch all clause and it holds up in court. So basically if you have a negative balance you cant dispute it and quite rightly so.
  • #3,883
  • Feb 7, 2015 10:08am Feb 7, 2015 10:08am
Sure, but force majeur needs to be proved and given that 98% of brokers withstood this so called force it could be argued that Alpari did not conduct thier business with due diligence

An interesting matter for the lawyers...
  • #3,884
  • Feb 7, 2015 11:06am Feb 7, 2015 11:06am
I have deposited more than 30000 USD BY VISA CREDIT CARD , SHOULD I ASK FOR CHARGBACK DOES THAT HELP CAN I GET MY MONEY BACK BY CHARGEBACK IN ALPARI SITUATION ? OR WHAT SHOULD I DO?
  • #3,885
  • Feb 7, 2015 11:29am Feb 7, 2015 11:29am
Quoting Tim_isoara
{quote} I don't know you. I won't be surprised if you are a idiot, after all you wrote.
Chill out, pal. It's not my fault if they are insolvent. I wish to get my money back too, but rather than wasting time hoping I'll trade somewhere else. Calling others idiots won't help anybody. Anyway I signed the petition if that helps...
  • #3,886
  • Feb 7, 2015 12:11pm Feb 7, 2015 12:11pm
I just hope kpmg will sell positive clients as soon as possible without negative clients. So the deal will done really quickly.
myfxbook: neoxis
  • #3,887
  • Feb 7, 2015 12:43pm Feb 7, 2015 12:43pm
Quoting neoxis
I just hope kpmg will sell positive clients as soon as possible without negative clients. So the deal will done really quickly.

I can't see how they can sell positive clients only. They are selling (trying to sell) the database, not the list with the positive clients. Some clients that have negative balance can be more valuable to have to have then 50 clients with 50USD on their account. And if they sell positive accounts, like you say, what are they going to do with the negative clients? Who on earth would want to buy list of negative accounts from 160 countries??
  • #3,888
  • Feb 7, 2015 12:58pm Feb 7, 2015 12:58pm
Quoting mojo123
{quote} I can't see how they can sell positive clients only. They are selling (trying to sell) the database, not the list with the positive clients. Some clients that have negative balance can be more valuable to have to have then 50 clients with 50USD on their account. And if they sell positive accounts, like you say, what are they going to do with the negative clients? Who on earth would want to buy list of negative accounts from 160 countries??
Why people don't read never??? read before talk other past posts! THEY GO TO COLLECTORS COME ON SPEED UP WITH BRAIN!
And be informed! i hate people come here and read just the last post above before write without see journal or nothing. If you don't want inform you don't write.
I don't answer anymore people who not follow seriously the all drama. It's a waste of time. You care your money??? READ! if you don't care don't post.
I'm tired people talk just for talk. MORE THAN HALF NEGATIVE MONEY ARE FROM JUST 9 CUSTOMERS!!! SO I DON'T THINK IS SO DIFFICULT TO DO!
myfxbook: neoxis
  • #3,889
  • Feb 7, 2015 1:28pm Feb 7, 2015 1:28pm
Quoting neoxis
{quote} Why people don't read never??? read before talk other past posts! THEY GO TO COLLECTORS COME ON SPEED UP WITH BRAIN! And be informed! i hate people come here and read just the last post above before write without see journal or nothing. If you don't want inform you don't write. I don't answer anymore people who not follow seriously the all drama. It's a waste of time. You care your money??? READ! if you don't care don't post. I'm tired people talk just for talk. MORE THAN HALF NEGATIVE MONEY ARE FROM JUST 9 CUSTOMERS!!! SO I DON'T THINK...
Calm down body, read this thread bit more then you, looks like. Still haven't seen anybody explaining with common sense how selling positive clients can be done in reality?
Like somebody mentioned earlier, they have to go to court and win case by case before selling debt to collectors..
  • #3,890
  • Feb 7, 2015 1:30pm Feb 7, 2015 1:30pm
Quoting mojo123
{quote} Calm down body, read this thread bit more then you, looks like. Still haven't seen anybody explaining with common sense how selling positive clients can be done in reality? Like somebody mentioned earlier, they have to go to court and win case by case before selling debt to collectors..
Ok we will see.
myfxbook: neoxis
  • #3,891
  • Feb 7, 2015 1:32pm Feb 7, 2015 1:32pm
Quoting neoxis
{quote} Ok we will see.
We'll see is not an explanation.
  • #3,892
  • Feb 7, 2015 1:35pm Feb 7, 2015 1:35pm
Guys lets just wait for our money .It will come in 6 more weeks from now .
  • #3,893
  • Feb 7, 2015 1:42pm Feb 7, 2015 1:42pm
Quoting mojo123
{quote} We'll see is not an explanation.
I do not know whether the Leaprate information is correct, but true or not breaking the customer database is the most expected thing. I wrote it before that Alpari as a whole is not a great buy, but if the customers are divided into good a bad group and sold separately it will maximize and speed up the return for clients. Sale of the trademarks and IP to Alpari owners is a clear indication that KPMG gave up trying to sell Alpari, now they have to find a way to break it cleverly and sold the parts to the highest bidders.

BY WOOKEY

it's enough for you? Are you afraid couse you have negative balance??? don't worry you will not have back that money and we don't need to pay for their mistakes.
We will not have the same fate mate. Rest In Peace.

THERE WILL BE A SEPARATION LIKE RED SEA IN EGYPT 3000 YEARS A.C. ! lol positive (Jews) VS negative (egyptians). And you will fall like egyptians. R.I.P. lol
myfxbook: neoxis
  • #3,894
  • Feb 7, 2015 1:48pm Feb 7, 2015 1:48pm
Quoting mojo123
{quote} Calm down body, read this thread bit more then you, looks like. Still haven't seen anybody explaining with common sense how selling positive clients can be done in reality? Like somebody mentioned earlier, they have to go to court and win case by case before selling debt to collectors..
The answer to your question is relatively easy.
They are selling the client database which includes negative and positive accounts.
The negative accounts will have a zero next to their entry as they have no money in the segregated account. They owe Alpari money. The positive accounts I dont need to explain.
So if a buyer does purchase the client list they will not inherit any debts as Alpari owns the debts not the clients.
If you understand that then you will also understand that KPMG who effectively run Alpari at present can indeed sell the debts on.
They are high court officers so im sure they know just the people to do the job.
  • #3,895
  • Feb 7, 2015 1:53pm Feb 7, 2015 1:53pm
Quoting neoxis
{quote} I do not know whether the Leaprate information is correct, but true or not breaking the customer database is the most expected thing. I wrote it before that Alpari as a whole is not a great buy, but if the customers are divided into good a bad group and sold separately it will maximize and speed up the return for clients. Sale of the trademarks and IP to Alpari owners is a clear indication that KPMG gave up trying to sell Alpari, now they have to find a way to break it cleverly and sold the parts to the highest bidders. BY WOOKEY it's enough...

Still not an explanation how it can be done, just hope that it could be done... Which is a very different thing, if you ask me. Who can and based on what criteria specify who is a good customer and who is not?
If I had -5000USD am I good or bad? If you had +50USD are you good or bad? And I could be willing to cover my balance, and trade 20000 USD more, while you just want to take your 50USD and have few beers with it.

Hope you got my point, now I am waiting for your explanation how woule you do it. Try to forget that you have money with them, and look at it from tier point of view
  • #3,896
  • Feb 7, 2015 1:59pm Feb 7, 2015 1:59pm
Quoting mojo123
{quote} Still not an explanation how it can be done, just hope that it could be done... Which is a very different thing, if you ask me. Who can and based on what criteria specify who is a good customer and who is not? If I had -5000USD am I good or bad? If you had +50USD are you good or bad? And I could be willing to cover my balance, and trade 20000 USD more, while you just want to take your 50USD and have few beers with it. Hope you got my point, now I am waiting for your explanation how woule you do it. Try to forget that you have money with...
It's just a dream and really risk take back someone than have -5000 in his accounts and anyway depends...if you are under 0 balance or you still have something with some losses is totally different. Positive are still there with full money so nothing change and no risk to ask back money from negative users.
Like jizzy said probably who has debt with alpari so has less than 0 balance they will report them to 0 and sell the debt to collectors. In both ways it's ok for me. The most important thing is to sell this client list. It obviuos is more actractive a full positive list than someone with debt with alpari that means the new buyer should to cover this debt when they acquire the list. So for this reason i think a new buyer will request just for positive list and negative just passed to collectors agency etc.
Cause remember as kpmg said if you have some debt with alpari you will be requested to pay back that debt to them.
myfxbook: neoxis
  • #3,897
  • Edited 2:23pm Feb 7, 2015 2:07pm | Edited 2:23pm
Quoting mojo123
{quote} I can't see how they can sell positive clients only. They are selling (trying to sell) the database, not the list with the positive clients. Some clients that have negative balance can be more valuable to have to have then 50 clients with 50USD on their account. And if they sell positive accounts, like you say, what are they going to do with the negative clients? Who on earth would want to buy list of negative accounts from 160 countries??
Kpmg will ask the client with negative balance, to cover the losses.
Kpmg want to sell ,just clients with positive balance.
If broker XX buy. Kpmg move money from Alpari segregated accounts to broker XX.
Clients will have accounts on Broker XX with same amount of money that they had at Alpari.
  • #3,898
  • Feb 7, 2015 2:12pm Feb 7, 2015 2:12pm
Quoting tim_isoara
{quote} kpmg will ask the client with negative balance, to cover the losses.

good man!!! Well said! And we don't deserve to wait for who lost! It's their problems so it's time to broke up!
myfxbook: neoxis
  • #3,899
  • Feb 7, 2015 2:24pm Feb 7, 2015 2:24pm
Quoting Tim_isoara
{quote} Kpmg will ask the client with negative balance, to cover the losses. Kpmg want to sell ,just clients with positive balance. If broker XX buy. Kpmg move money from Alpari segregated accounts to broker XX. Clients will have accounts on Broker XX with same amount of money that they had at Alpari.
yessss!!!!! i hope god it will be like this as soon as possibleeeee my friend!!!! I WILL OPEN A BOTTLE OF WINE IF I READ A CONFIRMED NEWS THAN WE WILL BE ACQUIRED FROM ANOTHER BROKER AND JUST WHEN I SEE MY FULL AMOUNT IN THE NEW ACCOUNT! THANKS GOD IF IT WILL HAPPEN.
myfxbook: neoxis
  • #3,900
  • Feb 7, 2015 2:28pm Feb 7, 2015 2:28pm
Quoting Tim_isoara
{quote} Kpmg will ask the client with negative balance, to cover the losses. Kpmg want to sell ,just clients with positive balance. If broker XX buy. Kpmg move money from Alpari segregated accounts to broker XX. Clients will have accounts on Broker XX with same amount of money that they had at Alpari.
Exactly.
Negative accounts have no money in the segregated accounts so will be left with KPMG to be sold to the highest bidder.
This is why ETX said previously that it would be 4 to 6 weeks before we see our funds.
They knew that no one would buy anything until this stage of the administration process as they can now purchase the good without the bad.
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