Alpari UK clients to get final distribution of 27 cents in the $

Maria Nikolova

The Final Client Money Distribution will be made to clients who have agreed their client money entitlement and contractual claim on the Claims Portal before the Bar Date – October 30, 2016.

The saga with the special administration of Alpari UK, which got into trouble following the January 15, 2015 events, is gradually coming to a close. The joint special administrators (JSAs) from KPMG have just published a notice on the final client money distribution.

The amount of the final client money distribution is 27 cents in the $ (USD) and it will be paid to clients with agreed client money claims on the Claims Portal before the Bar Date – October 30, 2016. This distribution will take total client money distributions to 82 cents in the $.

Those to receive the compensation will be notified via email by June 2, 2017 confirming that the payment has been made to them.

According to the JSA’s 4th Progress Report, covering their work on the case from July 19, 2016 to January 18, 2017, to date, 94,375 clients got access to the Claims Portal, whereas 16,278 clients have agreed their claim representing 96.2% by value of clients with a claim into the Client Money Pool (CMP).

The report said the JSAs have paid a total of about $51.8 million from the CMP to 12,503 clients, representing circa 53% of the CMP. The administrators forecast back then that total claims into the CMP will reach USD 97.8 million.

Regarding unsecured claims, the JSAs have agreed unsecured claims of GBP 18.47 million at the time of the publication of the 4th progress report. The administrators have declared and paid two interim dividends totalling 20 pence in the £ (GBP) to unsecured creditors.

The latest progress report said the Financial Services Compensation Scheme (FSCS) has taken assignment of 12,759 client claims and has paid compensation of USD 50.8 million to 12,305 clients.

Today, the JSA provided some procedural details concerning the first distribution too. They said they did not pay the First Client Money Distribution to Clients with a distributable amount of USD 200 or less because it was not economical for the CMP to bear the administrative expenses associated with making such payments. Clients with a total distributable amount of more than USD 51.50 but a first distribution of less than USD 200 are poised to receive the full amount of their combined distribution now.

Read this next

blockdag

BlockDAG Dominates with New Dashboard Features and Enhanced Roadmap, Eclipsing Solana and Polygon Developments

Discover how BlockDAG’s cutting-edge dashboard and promising 30,000x ROI outshine developments in Solana and Polygon, positioning it as a leading investment.

blockdag

BlockDAG Dashboard Update, A Step Towards Transparency Fuels FOMO in Crypto Whales, Presale Garners $32.8M Amid Retik Finance Listing

Discover why investors are choosing BlockDAG after its dashboard update and $32.8M presale, surpassing Retik Finance listing on Bitrue.

blockdag

Discover 5 Altcoins to Skyrocket Your Wealth This Cycle 🚀

The bull run of 2024 ignites fresh excitement for anyone looking to increase their wealth.

blockdag

BlastUP Presale Hits $7M; Final Days to Buy $BLP

BlastUP, the premier launchpad on Blast, has confirmed its robust utility by successfully launching its first IDOs. As its presale nears completion, it continues to garner significant attention from crypto enthusiasts. The amount of funds raised so far is approaching 7 million, and BlastUP already boasts a large and passionate community of supporters.

blockdag

BlockDAG Network: The Mobile Mining Revolutionizing Crypto Mining

A Simple Guide on How to Mine BDAG and its Benefits.

blockdag

BlockDAG’s $600M Masterplan Shocks the World: Outperforms Retik Finance After Jaw-Dropping Piccadilly Circus Spectacle

Discover how BDAG dominates the global market as Retik Finance struggles at launch, showcasing a robust $600M growth plan and securing strong investor confidence.

Education

Top Business Ide­as for Success in 2024

Looking for the best busine­ss ideas to start in 2024? Our guide will help you find promising options. We­ cover sectors like digital, we­llness, and green innovations se­t for growth next year. 

Digital Assets

Coinbase seeks to dismiss SEC lawsuit citing new crypto laws

Crypto exchange Coinbase has renewed its efforts to appeal a judge’s ruling in its ongoing case with the U.S. Securities and Exchange Commission (SEC), citing recent legislative developments in Congress.

Digital Assets

Elon Musk mourns Kabosu, Dogecoin responds with price jump

Dogecoin (DOGE) price climbed on Friday after the passing of Kabosu, the Shiba Inu who inspired the meme cryptocurrency.

<