The hearing is scheduled for December 13, 2017 at 3:00 p. m. (Eastern Time) before the Honorable Michael E. Wiles, United States Bankruptcy Judge.
Global Brokerage seeks interim authority to pay prepetition amounts owed on account of Trade Claims that do not to exceed $300,000 in total.
What are NOLs? Why does Global Brokerage have $288 million worth of them?
Grossman’s employment agreement was not negotiated in anticipation of a bankruptcy filing.
On December 11, 2017, Global Brokerage filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.
The last day of trading of Global Brokerage’s shares on NASDAQ will be December 28, 2017.
Mr Velez leaves Forex Capital Markets Limited, FXCM UK Merger Limited and Lucid Markets Trading Limited.
The former customers of FXCM say that the clauses in the contractual agreements that should compel arbitration are invalid.
The vote of outside director James G. Brown on Leucadia’s loan to FXCM is decisive for the opinion of Vice Chancellor Sam Glasscock III.
“Hi Sarah. How was your vacation? Essentially FXCM had large hedging losses from affiliate retail customer trades.”
According to the plaintiffs, the Court should disregard a purported Services Agreement between FXCM and Effex Capital as an extraneous document.
Global Brokerage’s SEC filing confirms V3 Markets sold certain intellectual property and fixed assets in August for $0.3 million in cash.
The Ballots on the proposed restructuring plan must be received by the Voting Agent by 5:00 p.m. (Eastern Prevailing Time) on December 4, 2017.
Margaret Deverell, Chief Accounting Officer, Robert Lande, Chief Financial Officer, and David S. Sassoon, General Counsel submit their resignations.
To remain listed on the Nasdaq Capital Market, Global Brokerage has to comply with a number of listing requirements and standards.
The future of Global Brokerage now hinges upon the possible filing of contested motions, creditors’ committees and a trustee.
FXCM CEO says the restructuring plan allows the broker to to put GLBR’s distractions behind itself.
Global Brokerage announces plans for “reorganization” under Chapter 11 for the purpose of extending the maturity on its current debt obligations for five years.