KPMG Urges Alpari UK's Unsecured Creditors to Submit Their Claims

The special administrator overseeing the Bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Read this Term proceeding of failed UK brokerage Alpari UK has distributed a letter informing the unsecured creditors of the company that they have about two and a half months to submit their claims.

In addition, the document states that an interim distribution of funds will be made to the unsecured creditors of the company within two months from October 30th.

The notice does not affect Alpari UK's customers who have presented their claims to the Client Money Pool.

Entities who have acted as trade creditors or suppliers to Alpari UK will have to complete a form published on KPMG’s website dedicated to the Alpari UK bankruptcy, with invoices for their services attached to the form.

Professional Clients & IBs

The professional clients of Alpari UK have already been sent bespoke proposals from KPMG, the special administrator urging to return them filled in with the according details before the 30th of October, 2015.

The Special administrator also requires a proof of ID from Alpari UK's professional clients.

Introducing Brokers (IBs) Introducing Brokers (IBs) An introducing broker (IBs) represents an entity that is facilitating the relationship between the clients and the broker or futures commission merchants (FCMs). Introducing brokers are generally seeking to provide an added value to the relationship between the parties by offering support or specific services. These may or may not be a subsidiary of the broker.Introducing brokers do not hold client money, execute orders or provide any trade-related services to the clients. In developed markets s An introducing broker (IBs) represents an entity that is facilitating the relationship between the clients and the broker or futures commission merchants (FCMs). Introducing brokers are generally seeking to provide an added value to the relationship between the parties by offering support or specific services. These may or may not be a subsidiary of the broker.Introducing brokers do not hold client money, execute orders or provide any trade-related services to the clients. In developed markets s Read this Term) have also been sent proposals from KPMG, which need to be returned by October 30th. They also have to to fill in a proof of debt form which can be obtained from the dedicated Alpari UK bankruptcy section of the website of KPMG. In addition, IBs will need to present their account statements as of the 19th of January, when Alpari UK filed for bankruptcy.

The special administrator of the Alpari UK bankruptcy, KPMG, urges all unsecured creditors to submit their claims via email to alpariukclaims@kpmg.co.uk or by post to the following address:

Alpari (UK) Limited (in special administration) c/o KPMG LLP

10th Floor

15 Canada Square

London E14 5GL