Court Disbands UTrade After Talmor Refuses to Answer Investigators
- “...if he was allowed to do what he asked for he would have brought money for the creditors...”
A Tel Aviv district court has issued a verdict today disbanding UTrade, according to court protocols obtained by Finance Magnates. Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term concerns about UTrade arose last year after an ISA audit, with actual cash in the bank being much less then the brokerage’s financial report claims: $77,000 compared with $12 million.
As we reported previously, UTrade owner and CEO Aviv Talmor returned to Israel recently and is now under house arrest. The company’s temporary liquidator summoned Talmor for investigation yesterday, but says that he refused to answer question to avoid incriminating himself. “You can say that he didn’t answer any question and most of what he said were complaints that if he was allowed to do what he asked for he would have brought money for the creditors and this was prevented by the actions of the temporary liquidator.”
The temporary liquidator office says it contacted a law firm in Cyprus in order to enforce the seizure warrant and the discussion will take place on Thursday about returning funds to clients so that they can make sure that the remaining funds will be returned. “There are clients of the firm that are claiming claims so it is important that we will be present in that case.”
Not one of the parties at the court objected to the temporary liquidator’s request to disband UTrade and the judge approved and issued a verdict disbanding the company.
A Tel Aviv district court has issued a verdict today disbanding UTrade, according to court protocols obtained by Finance Magnates. Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term concerns about UTrade arose last year after an ISA audit, with actual cash in the bank being much less then the brokerage’s financial report claims: $77,000 compared with $12 million.
As we reported previously, UTrade owner and CEO Aviv Talmor returned to Israel recently and is now under house arrest. The company’s temporary liquidator summoned Talmor for investigation yesterday, but says that he refused to answer question to avoid incriminating himself. “You can say that he didn’t answer any question and most of what he said were complaints that if he was allowed to do what he asked for he would have brought money for the creditors and this was prevented by the actions of the temporary liquidator.”
The temporary liquidator office says it contacted a law firm in Cyprus in order to enforce the seizure warrant and the discussion will take place on Thursday about returning funds to clients so that they can make sure that the remaining funds will be returned. “There are clients of the firm that are claiming claims so it is important that we will be present in that case.”
Not one of the parties at the court objected to the temporary liquidator’s request to disband UTrade and the judge approved and issued a verdict disbanding the company.