The company moves to 12th Floor 30 Crown Place London EC2A 4EB.
The automatic stay of legal proceedings against the company in the lawsuits brought by ex-investors is lifted.
The Effective Date of the Plan occurred on February 8, 2018 and, as a result, the Plan has been substantially consummated.
Global Brokerage got no objections to its plans to pay $1.31 million to Centerview Partners LLC and Vinson & Elkins LLP.
Judge Paul A. Crotty agrees to give the defendants three more weeks to reply to claims brought by ex-FXCM clients.
Global Brokerage aims to pay $1.31 million to Centerview Partners LLC and Vinson & Elkins LLP for the firms’ services provided with regard to the Chapter 11 “restructuring” of the broker.
Plaintiffs in a number of cases against the broker got the modifications they wanted.
If Kenneth Grossman remains employed with Global Brokerage on May 31, 2018, he is entitled to
be paid $1 million of deferred compensation.
The plan’s current language does not allow any recovery from the defendants in the lawsuit.
Chicago Policemen Fund estimate the value of its claim at more than $300 million, whereas the broker’s bankruptcy plan appears to be putting it at $0.00.
Certain broad releases proposed for FXCM Group and Leucadia are not fair and equitable, argues William K. Harrington.
The Court would like to be updated of any developments in the underlying bankruptcy action.
FinanceFeeds takes a look at the numbers in Global Brokerage’s updated liquidation analysis.
The plaintiffs and the defendants agree that as a matter of practicality and judicial efficiency it is prudent for the Court to stay further proceedings against Niv for a brief period.
Arthur Gruen and Bryan Reyhani are set to be independent directors with each of them to receive annual compensation of $100,000.
Global Brokerage plans to pay $200,000 a year to FXCM Group LLC as compensation for its services.
Plaintiffs in “mega lawsuit” argue against stay of legal proceedings against a number of former senior executives, including Dror Niv, William Ahdout, David Sakhai and Eduard Yusupov.
A “Black Swan” case against Drew Niv may be stayed due to Global Brokerage’s bankruptcy proceedings.
Non-debtors have until January 10, 2018 to “scream or die”, that is, to file their objections to the cure amounts suggested by Global Brokerage.