Alpari administrator starts going after negative balances

Author: Ryan Littlestone | Category: News

Alpari administrator KPMG hand over negative balances to international debt collection agent

Nice way to end the week by getting an email demanding several grand ;-)

Dear Sir/Madam,

Alpari (UK) Limited (in special administration) ("the Company")

Client Identifier: XX

We refer to previous updates issued by the Joint Special Administrators ('JSA's') on their website.

We can confirm that the JSA's have now concluded their work to validate the final account balances of clients that had open positions closed on 15thand 16thJanuary. In this regard please see the JSA's website (www.kpmg.com/uk/alpari) and specifically the document entitled "15.04.15 - Valuation of Swiss currency trade pairs"  which details the work undertaken to ensure that clients received pricing that was appropriate under both the Client Agreement and the Company's regulatory obligations.

The balance due from you has been confirmed as £xxxxx

Given the geographic spread of the ledger to be collected we have appointed an international collection agent (CCI Legal Limited), who have affiliates and offices in many of the countries involved and they will be in contact with you shortly to help you make arrangements to settle the debt due and deal with any questions you may have.

If you have any questions or wish to discuss this matter further, please do not hesitate to contact CCI Legal on+44 (0) 1766 771166 or email:alpari@ccilegal.co.uk

Kind regards

XX

Joint Special Administrator

In 5 months I've not heard one bean about the price levels all my trades were closed out at, including non CHF trades. I've had more spammy emails from ETX who took over the client list than I have had from KPMG. All the info from KPMG has been about those with positive equity and how that would be returned (fair enough), and none on those with negative balances. I can take all this in my stride but I dread to think of what other people must be going through with the complete lack of info or instruction.

So, anyone else who had a negative balance with Alpari better start checking your inboxes. As for me, it's time to get my shit kicking boots on. They're going to need to prove that number before they get a farthing from me


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