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  • #5,161
  • Mar 12, 2015 2:22pm Mar 12, 2015 2:22pm
Years?!
  • #5,162
  • Mar 12, 2015 2:28pm Mar 12, 2015 2:28pm
yeah for people go through kpmg claim yes and for over 50k gbp deposit.

IF you go with FSCS will require just some weeks or few months.

KPMG said like this today at the meeting.
myfxbook: neoxis
  • #5,163
  • Mar 12, 2015 3:16pm Mar 12, 2015 3:16pm
http://forexmagnates.com/insolvent-f...ions-answered/
  • #5,164
  • Mar 12, 2015 3:27pm Mar 12, 2015 3:27pm
Quoting WayToGo
Years?!
YES YEARS!

Just read the comment from stefan .....http://leaprate.com/MiuDA
  • #5,165
  • Mar 12, 2015 3:37pm Mar 12, 2015 3:37pm
Quoting neoxis
yeah for people go through kpmg claim yes and for over 50k gbp deposit. IF you go with FSCS will require just some weeks or few months. KPMG said like this today at the meeting.
Why did the KPMG informed earlier? Before the customers had access to the portal for the claims? This is idiotic! A lot of people have certainly now registered their claims through the portal at KMPG and not at FSCS.
  • #5,166
  • Mar 12, 2015 4:09pm Mar 12, 2015 4:09pm
Quoting ines
{quote} YES YEARS! Just read the comment from stefan .....http://leaprate.com/MiuDA
Its an old article dear last 26th of February, I think KPMG is playing a game with us, it can't be years, and about the article on Bloomberg I will consider it as nothing
  • #5,167
  • Mar 12, 2015 4:11pm Mar 12, 2015 4:11pm
Quoting neoxis
{quote} How can you know this?? you were there??? or there is a broadcast of the meeting in streaming?
hi
I said i attended the meeting my self being physically there. read what i said above .
  • #5,168
  • Mar 12, 2015 4:50pm Mar 12, 2015 4:50pm
@ WayToGo: I know its an old article, i recommended to read Stefans comment with regard to this old articel.



Stefan • 10 days ago
Another broker, MF Global UK Ltd, went bust on October 31st, 2011, and was put into Special Administration by the FCA.
KPMG were also the administrators for that company. As you'll see from the link below, clients of MF Global UK have still not been made whole, over three years later, while KPMG have billed over £100 million in fees! Those fees were of course paid by the clients and creditors of MFG.
http://www.kpmg.com/UK/en/Issu...
If you are lucky, the FSCS will step in and take over your claim, although that could easily take at least a year. If you have a larger account, or your money was not properly segregated, you will probably have to wait years for your money. More likely, you will decide to cut your losses and sell on your claim to some sort of distressed debt hedge fund, for considerably less than 100 cents on the dollar.
After waiting about eighteen months, my firm was forced to sell its MFG claim to one of these funds, at a loss of nearly £300K. If we hadn't done that, we would still be waiting for our money now.
The entire system is corrupt and disgusting. In particular, the FCA are supposed to ensure that customers are protected and that the UK financial system is stable and trustworthy. Instead of doing that, they simply abdicate their responsibility, and allow unethical administrators like KPMG to line their pockets at your expense.
  • #5,169
  • Mar 12, 2015 4:51pm Mar 12, 2015 4:51pm
Quoting hraza1
{quote} hi I said i attended the meeting my self being physically there. read what i said above .
So they said if we go through FSCS it will take just some weeks for take money back?
myfxbook: neoxis
  • #5,170
  • Mar 12, 2015 5:03pm Mar 12, 2015 5:03pm
Quoting neoxis
{quote} So they said if we go through FSCS it will take just some weeks for take money back?
Weeks can mean.. 2 weeks or 52 weeks or more... My guess is a 3-6 months
  • #5,171
  • Mar 12, 2015 5:16pm Mar 12, 2015 5:16pm
Quoting ines
@ WayToGo: I know its an old article, i recommended to read Stefans comment with regard to this old articel. Stefan 10 days ago Another broker, MF Global UK Ltd, went bust on October 31st, 2011, and was put into Special Administration by the FCA. KPMG were also the administrators for that company. As you'll see from the link below, clients of MF Global UK have still not been made whole, over three...

Man i'm sorry but story of MF global is totally different from our story...in that company MFglobal take a VERY HUGE DEBT AND THEY TRANSFERED ALL CLIENTS MONEY TO THEIR COMPANY ACCOUNT FOR RECOVERY A PART OF DEBT...SO TOTAL FRAUDOLENT COMPANY. For this reason it had required more time for a very big problem like just in the lehman history! So please is not the same thing...alpari uk never took a single cent of our funds..our funds are there...Or yes probably FSCS will not compensate nothing and they will continued to say we need to do some investigation or they said there was a deficit in clients account. Is the same thing. Our money are there. And in mf global FSCS never said they recovered that amount. Instead in this situation fscs already said they refund our money up to 50k gbp. Cause they know our money are there.So they no have problem to refund us before the end of the process.
myfxbook: neoxis
  • #5,172
  • Mar 12, 2015 5:17pm Mar 12, 2015 5:17pm
Quoting papamax
{quote} Weeks can mean.. 2 weeks or 52 weeks or more... My guess is a 3-6 months
papamax this guy attended on the meeting today, if what this user said is true maybe just some months but not 1 year.

hi

Today attended the meeting at given RV . Chairman in reply to a question said " it will take weeks and months but not definitely years to get your money back".
myfxbook: neoxis
  • #5,173
  • Mar 12, 2015 6:18pm Mar 12, 2015 6:18pm
Quoting neoxis
{quote} papamax this guy attended on the meeting today, if what this user said is true maybe just some months but not 1 year. hi Today attended the meeting at given RV . Chairman in reply to a question said " it will take weeks and months but not definitely years to get your money back".
I understand that, however, the KPMG guy doesn't even know when he will be able to pay out so don't take his word about when the FSCS will pay. As we already know FSCS aims to make all payments with 6 mths of claim started, so that's what we have to keep in mind!
  • #5,174
  • Mar 13, 2015 1:38am Mar 13, 2015 1:38am
Quoting ines
@ WayToGo: I know its an old article, i recommended to read Stefans comment with regard to this old articel. Stefan 10 days ago Another broker, MF Global UK Ltd, went bust on October 31st, 2011, and was put into Special Administration by the FCA. KPMG were also the administrators for that company. As you'll see from the link below, clients of MF Global UK have still not been made whole, over three...
i said this before and i agree with you, the UK system IIS TOTALY Corrupt we should be paid since february at latest
anyway i don t believe in those shit KPMG even UK regulation
good luck to all of you guyz we hope we will get our money before the end of the world
  • #5,175
  • Mar 13, 2015 2:59am Mar 13, 2015 2:59am
i am still waiting for this FUC*** email form kpmg!!!!!
  • #5,176
  • Mar 13, 2015 3:08am Mar 13, 2015 3:08am
Hi!

Thanks for all the info i read here. May i ask, did all of you guys gain access to the portal, because i still haven't and i have got 2 small accounts.

Regards
less is more
  • #5,177
  • Mar 13, 2015 3:16am Mar 13, 2015 3:16am
I still did not.
Per aspera ad astra
  • #5,178
  • Mar 13, 2015 3:30am Mar 13, 2015 3:30am
Clients with no CHF trades are expected to be given access to the Claims Portal to agree their claims by 20 March 2015 subject to any other individual client issues.
myfxbook: neoxis
  • #5,179
  • Mar 13, 2015 3:34am Mar 13, 2015 3:34am
New update of KPMG about the Initial meeting
https://www.insolvency-kpmg.co.uk/Vi...9-31f7cb3a86f6
  • #5,180
  • Mar 13, 2015 3:39am Mar 13, 2015 3:39am
When the FSCS receives dividends, it will pay the Client any amounts that they would otherwise have received if the Client had accepted dividends before claiming from the FSCS.


What this mean???? than before they should receive any payment for pay us??? or they can pay us first of all and then they will take any amount after our compensation.
myfxbook: neoxis
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