17 August, AtoZForex.com, Vilnius – The special administrators KPMG has disclosed sale prices of Alpari UK and Alpari Japan client lists, after the retail FX broker went into bankruptcy.
Who made money from Alpari Bankruptcy?
Following Alpari UK bankruptcy after the “Black Thursday” event many investors, creditors, and brokers lost their funds and investments. However, from all of it someone had to benefit, hence who made money from Alpari Bankruptcy?
To date, Alpari trademarks have been bought by Alpari RU and are now being advertised as the trader is back, functioning 100%.
On the other side, Alpari UK client Leeds have been sold to ETX Capital potentially benefiting the broker, however, time will be the key for injured traders to regain trust once more in brokers.
Alpari Japan K.K was acquired by Dukascopy, possible regaining its influence to Japan traders, after the broker has lost it by selling its Far East branch.
However, the bankrupt broker’s auditor KPMG stands above all. Charging Alpari UK bankruptcy administration for half-year of their services with more than $10 million in fees, an amount that could have saved Alpari UK in the first place and saved around 500 employees, thus the winner is clear.
Report details
The specialist administrator KPMG has published their report stating a few important matters and their work progress in the period between January 19, 2015 and July 18, 2015, the highlights are summarised below:
- KPMG charged Alpari UK bankruptcy administration with more than $10 million in fees.
- During the time, KPMG realised client funds amounting to $99.2m.
- Alpari UK client list was sold to ETX Capital for just $363,000 upfront.
- Alpari Japan was sold to Dukascopy for approximately $2.6 million.
- Non-client creditors will be refunded after October 30.
Alpari UK client list sold to ETX Capital
An initial agreed amount of £231,811 ($363,000) was received. However, since a substantial number of clients have decided to deposit funds with ETX, an additional sum will be paid as deferred consideration for at the end of the year.
Alpari Japan K.K. sold to Dukascopy
Following the broker’s sale on 5 August for £1.675 million with an extra of £320,000 due to the release of an intercompany debt, Alpari Japan K.K. will be now renamed Dukascopy Japan K.K.
Claims Portal & Alpari UK debtors
To date, 10,859 clients have accepted their claim representing 89.6% of the client money pool. From which 111 clients have argued their claim accounting for USD 2.2 million.
A short while ago, FSCS has refunded 8,660 out of 9,693 clients amounting to USD 36.6 million.
Historic debtors (clients with negative balances before 9.30am GMT, Thursday 15 January 2015) are due to pay £1,231,043. Current debtors (clients with negative balances after the date) are due to pay £21,382,115.