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  • #4,121
  • Feb 12, 2015 11:16am Feb 12, 2015 11:16am
Quoting Daniel4d
Check out page 15 of this pdf KPMG "Joint Administrators charging and disbursements policy" hour rates for "AAA Linen Services Limited". From 01 Oct 2014 /hr. Partner - 595 Director - 535 Senior Manager - 485 Manager - 405 Senior Administrator - 280 Administrator - 205 Support - 125 https://www.insolvency-kpmg.co.uk/Vi...0-690924250ffd
Mate, we are being robbed with each moment that goes by. KPMG are gonna fill their boots on this one without so much as an email to let us, those that are paying for this, know what it's likely to cost... It's institutional theft, nothing more, nothing less.
  • #4,122
  • Feb 12, 2015 11:32am Feb 12, 2015 11:32am
Quoting Tim_isoara
{quote} Sorry to bother you.
Never mind. And thank you for not many people care about this question which looks something confused.
  • #4,123
  • Feb 12, 2015 12:20pm Feb 12, 2015 12:20pm
From the Alpari Information Pack, written by KPMG for prospective buyers of the business

■Negative balances on accounts which traded the Swiss Franc are c. $31m however some clients may have other accounts with Alpariwhich are positive
■Half of these losses are made up by 9 customers
  • #4,124
  • Feb 12, 2015 1:03pm Feb 12, 2015 1:03pm
Quoting circochas
From the Alpari Information Pack, written by KPMG for prospective buyers of the business ■Negative balances on accounts which traded the Swiss Franc are c. $31m however some clients may have other accounts with Alpariwhich are positive ■Half of these losses are made up by 9 customers
This is my worry...how can they give us 100% of our profits! if there is a hole around 30m $ is impossible if they don't try to sell us to the best offer.

Deposits should be safe...but i don't think there are enough money for pay us 100% i wanna mean who has positive acc.
myfxbook: neoxis
  • #4,125
  • Feb 12, 2015 2:43pm Feb 12, 2015 2:43pm
Quoting circochas
{quote} Mate, we are being robbed with each moment that goes by. KPMG are gonna fill their boots on this one without so much as an email to let us, those that are paying for this, know what it's likely to cost... It's institutional theft, nothing more, nothing less.
omg KPMG charged them roughly half a mil GBP for 2 weeks of their "services"....as seen on page11 of that insolvency.
now imaagine what they can charge for our pretty client portal that takes them months....
  • #4,126
  • Feb 12, 2015 2:46pm Feb 12, 2015 2:46pm
My understanding is that:

Those nine clients were pro traders.

And money in that segregated account can not be used for anything else than to be returned to customers or pay for trades, but only your own trades, not someone's loses.

First of all KPMG has not found any monies missing yet.

Alpari still has $12M in their accounts, well at least did (or something like that), so there is actually $20m gap. Just a fact that there is a gap means that Alpari has not touched any money from segregated account.

Even if, in extreme unlikely event they would take those $20m out of a segregated client account, your account would be about 22-23% down from your last statement balance, as there are about $90m or so in that account.
  • #4,127
  • Feb 12, 2015 3:00pm Feb 12, 2015 3:00pm
A new website of Alpary is avaible by me. On this website the MyAlpari menü is working, but my live account is not showed. I could open a demo account with my old recorded data (name, e-mail, date of birth) and it is working well.
Make Money and Run.
  • #4,128
  • Feb 12, 2015 3:03pm Feb 12, 2015 3:03pm
The link is: https://alpari-forex.com/
Make Money and Run.
  • #4,129
  • Feb 12, 2015 3:06pm Feb 12, 2015 3:06pm
Quoting wantsomepips
My understanding is that: Those nine clients were pro traders. And money in that segregated account can not be used for anything else than to be returned to customers or pay for trades, but only your own trades, not someone's loses. First of all KPMG has not found any monies missing yet. Alpari still has $12M in their accounts, well at least did (or something like that), so there is actually $20m gap. Just a fact that there is a gap means that Alpari has not touched any money from segregated account. Even if, in extreme unlikely event they would...

and probably claim the rest from fca or whatever
  • #4,130
  • Feb 12, 2015 3:08pm Feb 12, 2015 3:08pm
Quoting nAVIN2007
{quote} and probably claim the rest from fca or whatever
no the problem is they said or you accept our offer or you can make a claim to FCA...i don't think is possible take money from both...you need to make a choice...too wonderful if would it be possible take from both for arrive 100%.
myfxbook: neoxis
  • #4,131
  • Feb 12, 2015 11:27pm Feb 12, 2015 11:27pm
what the hell is happening now? I just went to Alpari.com to and semas like there is an hole new web page, and a company called Alpari, talking how awesome they are. I had no open trades when the crash happened, but a lot of money on it. Still cant talk to anyone about it. any leads?
  • #4,132
  • Feb 12, 2015 11:57pm Feb 12, 2015 11:57pm
Quoting erisilva
what the hell is happening now? I just went to Alpari.com to and semas like there is an hole new web page, and a company called Alpari, talking how awesome they are. I had no open trades when the crash happened, but a lot of money on it. Still cant talk to anyone about it. any leads?
​Pretty easy, 3 Russian owners of Alpari UK bought the IP and trademarks from KPMG. And now advertise their other brokerage business:

"Alpari Limited, Cedar Hill Crest, Villa, Kingstown VC0100, Saint Vincent and the Grenadines, West Indies, is incorporated under registered number
20389 IBC 2012 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and
the Grenadines."

Oh, and the CEO said the UK regulation is not competitive anymore (since their company went belly up it only makes sense). So, anyone want, to try out the robustness of this regulation?
Wookey
  • #4,133
  • Feb 13, 2015 12:12am Feb 13, 2015 12:12am
Quoting wantsomepips
My understanding is that: Those nine clients were pro traders. And money in that segregated account can not be used for anything else than to be returned to customers or pay for trades, but only your own trades, not someone's loses. First of all KPMG has not found any monies missing yet. Alpari still has $12M in their accounts, well at least did (or something like that), so there is actually $20m gap. Just a fact that there is a gap means that Alpari has not touched any money from segregated account. Even if, in extreme unlikely event they would...
Reality is this:

1.Alpari said that:"This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules."
2.AlpariUK in 15.01.2015, covered the losses( clients with negative balance) from his money and still have 12 milion in account. But not enough funds to meet regulations of FCA and must stop trading.And start insolvency.
3.Clients with negative balance now has a debt on Alpari UK
KPMG said that: "On the heels of the earlier Q&A, KPMG has released a statement confirming that Alpari UKs clientele will be responsible for bearing any negative balance."
4.From clients with positive accounts not missing any money.
  • #4,134
  • Feb 13, 2015 12:21am Feb 13, 2015 12:21am
Quoting neoxis
{quote} This is my worry...how can they give us 100% of our profits! if there is a hole around 30m $ is impossible if they don't try to sell us to the best offer. Deposits should be safe...but i don't think there are enough money for pay us 100% i wanna mean who has positive acc.
Because, Alpari UK, business was conducted properly. You have all your money in your segregated account.
  • #4,135
  • Feb 13, 2015 12:36am Feb 13, 2015 12:36am
From what I understand the segregated accounts are corrected daily although I may be wrong.
So, on the 15th January when the segregated accounts were corrected Alpari was left without enough operating capital to continue operating as a business.
So I believe clients will be reimbursed their full account balances as the full balances are clearly present.
  • #4,136
  • Feb 13, 2015 1:00am Feb 13, 2015 1:00am
Quoting jizzyjay
From what I understand the segregated accounts are corrected daily although I may be wrong. So, on the 15th January when the segregated accounts were corrected Alpari was left without enough operating capital to continue operating as a business. So I believe clients will be reimbursed their full account balances as the full balances are clearly present.
Yes.After clearing, in15.01.2015, Alpari has not fulfilled the conditions, imposed by the FCA, for his minimum cash flow.
  • #4,137
  • Feb 13, 2015 1:04am Feb 13, 2015 1:04am
Quoting Tim_isoara
{quote} Yes.After clearing, in15.01.2015, Alpari has not fulfilled the conditions, imposed by the FCA, for his minimum cash flow.
  • #4,138
  • Feb 13, 2015 1:05am Feb 13, 2015 1:05am
Quoting jizzyjay
From what I understand the segregated accounts are corrected daily although I may be wrong. So, on the 15th January when the segregated accounts were corrected Alpari was left without enough operating capital to continue operating as a business. So I believe clients will be reimbursed their full account balances as the full balances are clearly present.
Yes.After clearing, in 15.01.2015, Alpari has not fulfilled the conditions, imposed by the FCA, for minimum cash flow.
But, no missing money from segregated accounts.
  • #4,139
  • Feb 13, 2015 1:07am Feb 13, 2015 1:07am
Quoting Tim_isoara
{quote} Yes.After clearing, in 15.01.2015, Alpari has not fulfilled the conditions, imposed by the FCA, for minimum cash flow. But, no missing money from segregated accounts.

That sounds spot on to me.
  • #4,140
  • Feb 13, 2015 2:49am Feb 13, 2015 2:49am
Ok
will sleep until 20th February
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