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  • #4,861
  • Mar 3, 2015 2:57am Mar 3, 2015 2:57am
Quoting greenuns
{quote} Ahhh Ok, so I rechecked the site and I missed the label GBP Equivalent. My bad, I totally misread the table. I only say Contractual Claim Amount and not the GBP part. They could have put the GBP value in parentheses and not another column. One of the PDF update said all funds will be in US Dollars because most client funds were in US dollars so I assumed all digits were in US Dollars. So I guess we are getting all funds back? Sorry to have been seen as a liar and a troll lol
Ok. Apology are accepted.
  • #4,862
  • Mar 3, 2015 2:59am Mar 3, 2015 2:59am
Quoting Tim_isoara
{quote} After vote. If clients must pay fee. My hope is not pay the fee.
That will be discrimination if they are not charging everyone.It is also possible that they charge only the
ones involved in trades on 15th and 16th as the real work is validating their trades.
  • #4,863
  • Mar 3, 2015 3:07am Mar 3, 2015 3:07am
Quoting Tim_isoara
{quote} With or without the Creditors Committee. the client money belong to the client. Property of money don't change. But is very hard to predict, is better with or without Creditors Committee.
Could you please give more details about this? Thank you.
  • #4,864
  • Edited 3:43am Mar 3, 2015 3:08am | Edited 3:43am
Quoting shail31
{quote} That will be discrimination if they are not charging everyone.
No. That's law.
We dont have the obligation to pay the fee. Because Alpari UK have money to pay the fee for KPMG.
  • #4,865
  • Mar 3, 2015 3:27am Mar 3, 2015 3:27am
Quoting mmx007
{quote} Could you please give more details about this? Thank you.
Committee will approved quantum of expenses, fee for KPMG ,who will pay the fee. Negotiation about fee with KPMG.
In this committee are representatives of clients and creditors.
Clienti and creditors have not the same interes.
If majority vote of committee is for clients is good for clients.
If majority vote of committee is for creditors is good for creditors.
But in any case committee is not good for KPMG, because, fee will be negotiated and action, expenses, of KPMG is approved by committee.
But I don't know if this committee is free of charge.
Or must be paid
  • #4,866
  • Mar 3, 2015 4:28am Mar 3, 2015 4:28am
its a week now
and most of us don't know which is the best choice
claim to kpmg
or to fscs

for me I want the faster, if anyone can help on this issue please...
  • #4,867
  • Mar 3, 2015 4:32am Mar 3, 2015 4:32am
jizzyjay

Dude, we are waiting your feedback after calling FSCS

Regards
  • #4,868
  • Mar 3, 2015 4:38am Mar 3, 2015 4:38am
Quoting WayToGo
jizzyjay Dude, we are waiting your feedback after calling FSCS Regards
Yes me too and even from magicpips
myfxbook: neoxis
  • #4,869
  • Mar 3, 2015 4:43am Mar 3, 2015 4:43am
we need an asnwer from fscs a final answer!
myfxbook: neoxis
  • #4,870
  • Mar 3, 2015 5:19am Mar 3, 2015 5:19am
Hi guys

I am doing lots research and talking with legal advisers at this moment.i will prepare an e-mail for KPMG and have lots of questions to them,not made a decision yet
  • #4,871
  • Mar 3, 2015 5:20am Mar 3, 2015 5:20am
Quoting Tim_isoara
{quote} Committee will approved quantum of expenses, fee for KPMG ,who will pay the fee. Negotiation about fee with KPMG. In this committee are representatives of clients and creditors. Clienti and creditors have not the same interes. If majority vote of committee is for clients is good for clients. If majority vote of committee is for creditors is good for creditors. But in any case committee is not good for KPMG, because, fee will be negotiated and action, expenses, of KPMG is approved by committee. But I don't know if this committee is free of...
Thank you.
  • #4,872
  • Mar 3, 2015 5:23am Mar 3, 2015 5:23am
Quoting WayToGo
jizzyjay Dude, we are waiting your feedback after calling FSCS Regards
Read this is from FSCS:
"The firm I dealt with is no longer trading, but the FSCS says it cannot help me. Why? As a fund of last resort, we can only consider claims if they cannot be paid by anyone else. If the firm is no longer trading but still has assets that could meet your claim, we are unlikely to be able to help you. This means that you will need to take your case up with the firm you dealt with."
http://www.fscs.org.uk/what-we-cover...t_help_me_Why_

Still want jizzyjay?
  • #4,873
  • Mar 3, 2015 5:41am Mar 3, 2015 5:41am
Quoting Tim_isoara
{quote} Read this is from FSCS: "The firm I dealt with is no longer trading, but the FSCS says it cannot help me. Why? As a fund of last resort, we can only consider claims if they cannot be paid by anyone else. If the firm is no longer trading but still has assets that could meet your claim, we are unlikely to be able to help you. This means that you will need to take your case up with the firm you dealt with." http://www.fscs.org.uk/what-we-cover...t_help_me_Why_...
Ok tim but so you can explain us why KPMG said we can claim too with FSCS??? Thanks
myfxbook: neoxis
  • #4,874
  • Mar 3, 2015 5:45am Mar 3, 2015 5:45am
Quoting Tim_isoara
{quote} Read this is from FSCS: "The firm I dealt with is no longer trading, but the FSCS says it cannot help me. Why? As a fund of last resort, we can only consider claims if they cannot be paid by anyone else. If the firm is no longer trading but still has assets that could meet your claim, we are unlikely to be able to help you. This means that you will need to take your case up with the firm you dealt with." http://www.fscs.org.uk/what-we-cover...t_help_me_Why_...
For sure still want him to answer me, who told you I didn't read this?
Dude, you misunderstand these words
You better ask to know more
  • #4,875
  • Mar 3, 2015 5:50am Mar 3, 2015 5:50am
Hi

Very quick update, FSCS is saying the reason KPMG is giving the option to go woth FSCS is maybe KPMG will not be able to make payments in full so giving us the option to go with FSCS, and also FSCS added keep checking our website ,there will be an update soon
  • #4,876
  • Mar 3, 2015 5:54am Mar 3, 2015 5:54am
Quoting magicpips
Hi Very quick update, FSCS is saying the reason KPMG is giving the option to go woth FSCS is maybe KPMG will not be able to make payments in full so giving us the option to go with FSCS, and also FSCS added keep checking our website ,there will be an update soon
Ok thank you magicpips so that's why if we take a decision to go through kpmg we will still have the possibility to go with FSCS too..
So maybe we gonna take all than kpmg can give us..and than for the difference we can chose fscs?

I hope they can give us more clear info.
myfxbook: neoxis
  • #4,877
  • Mar 3, 2015 5:56am Mar 3, 2015 5:56am
Quoting neoxis
{quote} Ok tim but so you can explain us why KPMG said we can claim too with FSCS??? Thanks
As a fund of last resort, we can only consider claims if they cannot be paid by anyone else.

You can complain to FSCS.But is not a vald claim.Your complaint will be on hold.
If KPMG pay you. FSCS dont pay you.
You cant complain from FSCS the fee paid to KPMG, or a loss from exchange from GBP to USD.
  • #4,878
  • Mar 3, 2015 6:00am Mar 3, 2015 6:00am
So you chosen kpmg?
myfxbook: neoxis
  • #4,879
  • Mar 3, 2015 6:31am Mar 3, 2015 6:31am
Quoting tim_isoara
{quote} as a fund of last resort, we can only consider claims if they cannot be paid by anyone else. You can complain to fscs.but is not a vald claim.your complaint will be on hold. If kpmg pay you. Fscs dont pay you. You cant complain from fscs the fee paid to kpmg, or a loss from exchange from gbp to usd.
so why they said is likely to have back funds quicker from fscs?
myfxbook: neoxis
  • #4,880
  • Mar 3, 2015 8:25am Mar 3, 2015 8:25am
If there is no fees to be paid I will claim from KPMG.

Otherwise I will simply claim via FSCS even if it means I have to wait a little longer.

KPMG is playing their game very well. They will release the funds very quick if we all agree that their fee can be deducted from our funds. If we do not agree we will wait longer for our money coming from FSCS.

They (KPMG) knows that some traders cannot wait long and that they will agree for a fee just so that they can get their money quick. They are running a business and will take as much as they possibly can from this process.
Never Ever Give Up!
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