Alpari Sale Talks Seems to Have Collapsed, Final FCA Meeting Imminent
Forex Magnates has also learned that the broker must report to the FCA within the next hour if any deal
Alpari UK has looked for a buyer to take over its business as soon as possible to prevent the company from declaring insolvency. Forex Magnates has just learned that a shareholder deadlock of the broker might lead to a delay in sales talks.
Andrey Dashin, the majority owner of Alpari UK, in a conversation with Forex Magnates said that he “was not aware of and was not invited to take part in any negotiations to sell Alpari UK to FXCM or anyone else.”
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Forex Magnates has also learned that the broker must report to the FCA within the next hour if any deal has materialized to prevent the insolvency declaration, and according to Forex Magnates sources no deal has been reached.
At 10:30 am UK time, all Alpari employees have a major meeting in the offices where the firm going insolvent is expected to be announced. As far as Forex Magnates knows, client funds have not been compromised as they are segregated based on FCA rules.
Booom! Best thing which could happen. [Deleted]
Ok. So if the firm is not yet insolvent, then why aren’t withdrawals being processed? Isn’t this a massive breach of contract?
At the moment they have a meeting. If anybody knows if this bucket shop is blown up please let me know….
Wow, things are moving really fast. Their website is showing the same message since Saturday.
Whats going on in the meeting? Do they have a buyer for their accounts? Or their company or non of it?
How much time does it need to withdrawal the positive balance
If all goes well then you get him in two or three years, perhaps….
They should just give us our monies so that we can move to better brokers.
Hey Forexmagnates: What was the result of the meeting at 10:30 am UK time ? Are they collapsed? Please give us informations…
Ron: how are funds safe if customers are in the red? I would assume if there is no fresh money coming in that there will be not enough to pay out all positive balances? Or are they not allowed to deduct negative balances from the client trust account? My understandig is they ARE allowed to debit/credit the client trust accounts according to client PnL.
Also who would buy them, apparently they were producing losses, and now with the 40mm hole, doesnt sound like there is a whole lot of value there.
Hmm strange that they didn’t use sister’s companies money to cover this shortfall. Andrey is also the owner of Forextime, has definitely the money to cover this problem and some sister’s company that can use their capital to help Alpari UK.
Why ExcelMarkets able to handle the withdrawal of all his clients? Today my withdrawal finally has been processed and hopefully my fund will be arrived within 2-3 days.
No one thought that Andrey fell out with the other 2 and just might want to push what’s left of the London biz over to FXTM…….
the worse thing is that, no any email from Alpari to all its clients regarding this issue, they can not be reached at all. No relationship at all with clients as my friend experienced. It is very different which I experience with ExcelMarket. I wont sign up with any Alpari subsidiary.
If Alpari can’t come up with their clients’ money then up to £50,000 for each client will be covered by the FCA so at some point we will get our money back.