KPMG Releases Alpari UK Update, Claim Procedure and Upcoming Meeting

In a latest string of ongoing claims, KPMG has given an update on Alpari UK, including the outlining of the

rp_Alpari-logo-300x196-300x1961111-150x150.jpgIn a latest string of ongoing claims, KPMG has given an update on Alpari UK, including the outlining of the process of a client money pool (CMP) and claims portal that will be available as of March 6, 2015, with a meeting slated for March 12.

Back on February 9, KPMG released an update to Alpari UK clients and creditors reiterating that the company’s intellectual property had been acquired by Andrey Dashin. It also confirmed that Alpari UK will be sold for parts after no buyers of the company as a whole emerged, and it further affirms that 114 employees have since resigned or been made redundant, the remaining 52 employees assisting KPMG.

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KPMG has also outlined a Client Money Pool (CMP), wherby joint special administrators are required to hold the pool in a single currency – given the uniformity of the USD across Alpari UK’s client funds and claims.

Furthermore, KPMG has opened up a claims portal under the pretext that it will permit only clients who have a claim into the CMP of the company itself. The timetable for the availability of said portal is likely to be March 6, 2015, for those clients who held cash balances as of 9:00 GMT on January 15, 2015. Clients will be notified via email when this option is available and in the meantime can consult the FAQ portal on the site.

Finally, a client and creditor’s meeting will be held on March 12, 2015 in London – the meeting will stipulate the requisite actions that both clients and creditors will need to take to achieve any level of claims or action.

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