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Alpari.co.uk Discussion

  • #4,661
  • Feb 27, 2015 3:52am Feb 27, 2015 3:52am
Quoting papamax
{quote} You keep the habit of coming here and vomiting your non-sense all over the thread! Next time go throw up in the toilet instead of here, you would be doing us a huge favour!
Bottom line: People shouldn't pay to get their own money back, vomiting or no vomiting. If going through FSCS would allow people to get their whole funds back without paying the special administrators, then people should go through FSCS. But I would go through both ways to see which way is faster.
Make your losses in demo. Earn your profits live.
  • #4,662
  • Feb 27, 2015 3:57am Feb 27, 2015 3:57am
Quoting Forexia
{quote} Bottom line: People shouldn't pay to get their own money back, vomiting or no vomiting. If going through FSCS would allow people to get their whole funds back without paying the special administrators, then people should go through FSCS. But I would go through both ways to see which way is faster.
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  • #4,663
  • Edited 8:08am Feb 27, 2015 4:00am | Edited 8:08am
Quoting Forexia
{quote} Bottom line: People shouldn't pay to get their own money back, vomiting or no vomiting. If going through FSCS would allow people to get their whole funds back without paying the special administrators, then people should go through FSCS. But I would go through both ways to see which way is faster.
And the vomiting goes on.... my god!

1- You can't go with both
2- FSCS will seek to get the money off Alpari/KPMG so government won't pick up the bill.. Even if they do, that's why they offer the protection, for cases like this.
  • #4,664
  • Feb 27, 2015 4:18am Feb 27, 2015 4:18am
I just would ask one thing...after established than we can claim with company or FSCS...as i think looking back other insolvencies hendled by FSCS they will give you back max 90% nothing more...So pay attention guys...maybe is better go through the company claim at this point...the fees will never be more than 10 mln $ o guess.

And i'm wondering...the most important thing...I don't care to take just around 90% but in my priority i want chose the most quicker to send me money..

Than i guess is the company...or i'm wrong?? I know than with FSCS will take at least 6-1 year.
myfxbook: neoxis
  • #4,665
  • Feb 27, 2015 4:24am Feb 27, 2015 4:24am
Quoting papamax
{quote} And the vomiting goes on.... my god! 1- You can't go with both 2- FSCS pays 90% of the value of the claim, so that would probably cost more than paying the special administrators.
Well that's NOT what you said earlier. See screenshot below. Now you turn around and want to agree with KPMG taking your money for fees that should've been paid by the creditors? Not stopping you, it's YOUR money UNLESS you are just a troll that has nothing else better to do. Either way, have fun!
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Make your losses in demo. Earn your profits live.
  • #4,666
  • Feb 27, 2015 4:25am Feb 27, 2015 4:25am
Quoting neoxis
I just would ask one thing...after established than we can claim with company or FSCS...as i think looking back other insolvencies hendled by FSCS they will give you back max 90% nothing more...So pay attention guys...maybe is better go through the company claim at this point...the fees will never be more than 10 mln $ o guess. And i'm wondering...the most important thing...I don't care to take just around 90% but in my priority i want chose the most quicker to send me money.. Than i guess is the company...or i'm wrong?? I know than with FSCS will...
This was taken from the email pipito got from KPMG;

 

  1. Retain your claim against the Company. If you do not wish to claim compensation and assign your claims arising out of your Client Agreement to the FSCS, you will be entitled to receive directly any distributions which may be made from the Client Money Pool in respect of your Client Money Entitlement and any distributions which may be made from the general estate in respect of your Contractual Claim Amount. The Joint Special Administrators have not currently declared any distributions; it may take some time for any to be made; and you may not receive distributions for the full amount of your Client Money Entitlement or Contractual Claim Amount. Seeking compensation from the FSCS is likely to result in you receiving your money more quickly than by retaining your claim against the Company.

For KPMG to make a statement like that they must have a very good idea of the timescales involved for both parties to approve and reimburse our funds.
Ill be emailing KPMG to ask why these timescales are not being conveyed to the clients.

  • #4,667
  • Feb 27, 2015 4:29am Feb 27, 2015 4:29am
Quoting jizzyjay
{quote} This was taken from the email pipito got from KPMG; Retain your claim against the Company. If you do not wish to claim compensation and assign your claims arising out of your Client Agreement to the FSCS, you will be entitled to receive directly any distributions which may be made from the Client Money Pool in respect of your Client Money Entitlement and any distributions which may be made from the general estate in respect of your Contractual Claim Amount. The Joint Special Administrators have not currently declared any distributions; it...

Yeah this si worry me...cause i know for sure FSCS need at least 6 months for process payment...so why they are saying like this??? this make me really worried to wait so long. I thought with company should be faster than FSCS. a big ? remain in my brain
myfxbook: neoxis
  • #4,668
  • Feb 27, 2015 4:37am Feb 27, 2015 4:37am
Quoting Forexia
{quote} Well that's NOT what you said earlier. See screenshot below. Now you turn around and want to agree with KPMG taking your money for fees that should've been paid by the creditors? Not stopping you, it's YOUR money UNLESS you are just a troll that has nothing else better to do. Either way, have fun! {image}
Attached Image


You strike again.... when are you gonna stop!?

Of course I would prefer not to pay for the fees but that is not what is gonna happen! I will vote not to pay but the creditors will vote for us to pay and so we will have to pay for fees related to getting the money back to us.

So yeah, bottom line it is not about what I agree... it is about what is going to happen ultimately... I will take it as it comes and won't be bitching about like you have been doing
  • #4,669
  • Feb 27, 2015 4:42am Feb 27, 2015 4:42am
Quoting papamax
{quote} {image} You strike again.... when are you gonna stop!? Of course I would prefer not to pay for the fees but that is not what is gonna happen! I will vote not to pay but the creditors will vote for us to pay and so we will have to pay for fees related to getting the money back to us. So yeah, bottom line it is not about what I agree... it is about what is going to happen ultimately... I will take it as it comes and won't be bitching about like you have been doing
Ok looks like you are not mature enough to keep yourself from launching personal attacks. Putting you on ignore. Goodbye and have fun paying to get your own money back!
Make your losses in demo. Earn your profits live.
  • #4,670
  • Feb 27, 2015 4:47am Feb 27, 2015 4:47am
Hi everybody,
Does you have seen these words in the "Claims Portal Frequently Asked Questions" ?

"The Joint Special Administrators are not currently able to confirm whether there will be sufficient funds in the Client Money Pool to pay out your Client Money Entitlement in full. "

This looks confused since our money are in segregated account.
  • #4,671
  • Feb 27, 2015 4:50am Feb 27, 2015 4:50am
Quoting papamax
{quote} And the vomiting goes on.... my god! 1- You can't go with both 2- FSCS pays 90% of the value of the claim, so that would probably cost more than paying the special administrators.
90% why? Where can i see that value?
Thanks
  • #4,672
  • Feb 27, 2015 4:54am Feb 27, 2015 4:54am
Before to chose if claim with FSCS or KPMG we should to know better timing and % back from either.
myfxbook: neoxis
  • #4,673
  • Feb 27, 2015 5:02am Feb 27, 2015 5:02am
Quoting mmx007
Hi everybody, Does you have seen these words in the "Claims Portal Frequently Asked Questions" ? "The Joint Special Administrators are not currently able to confirm whether there will be sufficient funds in the Client Money Pool to pay out your Client Money Entitlement in full. " This looks confused since our money are in segregated account.
Yes, it is a bit confusing! I think what they mean is... The balance you agree to is actually what is owed to you, however, you may not get it in full because there will be the FEEs to be discounted, there could be missing money and etc! This is the risk of going with the company.

With the FSCS, if you agree a balance I believe you will be entitled to 90% of that balance no matter what.

It is kind of like trading, you can Take Profit with the FSCS or leave your trade running longer, it could go UP a bit or Down a bit... Ultimately this is an individual decision that each of us will have to make.
  • #4,674
  • Feb 27, 2015 5:15am Feb 27, 2015 5:15am
I sent all the papers through email and registered mail with return receipt which will have legal value in case something goes wrong. I suspect they might act fishy with the trades that where left open during the crash.
  • #4,675
  • Feb 27, 2015 5:39am Feb 27, 2015 5:39am
anyway we should to wait...not portal but pro-rata decision...and i think they cannot say it until all clients not claimed everything and until when is realized who should to pay these fees..
this can delay the process for know the real amount we gonna take..
and until FSCS doesn't say anything..is still not a sure way than kpmg.
so i chose to wait...until i know something from the both side.
myfxbook: neoxis
  • #4,676
  • Feb 27, 2015 5:44am Feb 27, 2015 5:44am
Quoting papamax
{quote} Yes, it is a bit confusing! I think what they mean is... The balance you agree to is actually what is owed to you, however, you may not get it in full because there will be the FEEs to be discounted, there could be missing money and etc! This is the risk of going with the company. With the FSCS, if you agree a balance I believe you will be entitled to 90% of that balance no matter what. It is kind of like trading, you can Take Profit with the FSCS or leave your trade running longer, it could go UP a bit or Down a bit... Ultimately this is...
If there is missing money, I think it should already be found by KPMG. So I am not happy with the uncertain words that KPMG says.
What I need to know is just how much I will get back, and how long it takes.

I don't like to sign some agreements which do not give you a promise but may have some traps in them, honestly.
  • #4,677
  • Feb 27, 2015 5:50am Feb 27, 2015 5:50am
Quoting verv
{quote} I think making a claim against the fscs is the way to go.
according to my advise getting it from the fscs will take alot longer than from kpmg...
  • #4,678
  • Feb 27, 2015 6:17am Feb 27, 2015 6:17am
It's friday. Sunshine is on the sky . Is a very beautiful day.
  • #4,679
  • Feb 27, 2015 6:42am Feb 27, 2015 6:42am
Quoting missluna1982
{quote} according to my advise getting it from the fscs will take alot longer than from kpmg...
Who did you ask?

Strange the way KPMG is saying that the FSCS will be shorter - I don't know which will be faster, I have just been taking the word of KPMG
  • #4,680
  • Feb 27, 2015 7:08am Feb 27, 2015 7:08am
There too obscure points....how can we make a decision??? without to know anything...it's like to chose a closed box decision....impractical...someone then will go at the meeting should bring this point on the discussion table.
myfxbook: neoxis
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