FXCM UK remained loss-making in 2017, with retail trade volume and client cash down.
The members of the partnership have decided to sell their exchange memberships and to wind down the business.
The member list of Lucid Markets has been reshuffled, with a dozen of appointments terminated.
Shareholder Brett Kandell says the broker and its former execs are frustrating a derivative litigation.
The SOX certifications signed by the defendants were false and misleading.
The company, formerly known as FXCM Inc, claims that there are no unresolved motions, contested matters, or adversary proceedings pending in the Chapter 11 Case.
Judge Paul A. Crotty is not enthusiastic about the incessant exchange of arguments between Effex Capital and former FXCM clients.
Former clients of the broker insist that they have a legal right to bring an action against FXCM and its liquidity provider.
The company has posted a rather mysterious earnings report for the first quarter of 2018, with unexplained and unaudited numbers. There is still no report for 2017.
Effex tells Court that it seeks money damages to redress past violations of due process of law under the Fifth Amendment to the United States Constitution.
What was supposed to be a limited restructuring targeted only at Global Brokerage’s notes actually hid the efforts of the debtor to drop its potential claims against officers and directors.
Why is it implausible that purchasing a currency at $1.3660 instead of $1.3650 as a result of FXCM’s abusive trading practices constitutes a loss for the customer?
The sum includes the carrying value of the term loan – $73.2 million, and the investment in an associated company – $150.9 million.
Effex Capital, the company embroiled in the exit of FXCM from the US retail FX market, is displeased with the decision of Judge Andrea R. Wood.
Although there has been no order by the Court to file claims in the bankruptcy case of Global Brokerage, some companies and individuals have acted proactively.
The plaintiff did not specify the motives for his decision to dismiss the complaint against 13 former and current directors and officers of Global Brokerage.
FXCM’s Special Committee admittedly never adequately investigated the Board’s oversight during the periods covered by the CFTC and NFA investigations.
Judge Andrea R. Wood has dismissed the case brought by Effex Capital against the US regulator.
Global Brokerage gets no objections to $2.9m in fees charged by investment banker, counsel, advisors
The biggest chunk of the bill reflects the $2.28 million charged by Perella Weinberg Partners LP, investment banker and financial advisor to the debtor.