27 February, AtoZForex.com, Amsterdam — Ever since the official announcement of insolvency of Boston Technologies liquidity providers; Boston Prime Limited and BT Prime, it has been unwieldy bustling upon the truth behind the case. All issues started after the notorious Swiss Black Swan event, similarly like many other financial institutions that got affected, Boston Prime and BT Prime were part of the few critical casualties that eventually declared bankruptcy.
Thereafter on the 6th of February, 2015, a witness statement of former Boston Technologies CEO; Mr. G. Popescu went public and provided clarification of the dire situation of the entire Prime Companies case. Indicating that the complicated issue commenced all the way back in June, 2014, when the Prime Companies were acquired by Forexware LLC.
Eventually, Mr. G. Popescu appealed for an urgent application of placing the Prime Companies under special administration, whilst appointing Michael David Rollings and Steven Edward Butt of Rollings Oliver LLP to handle the Prime Companies case.
Upon recently, a finally decision has been made by the High Court, honouring Prime Companies’ request of special administration. In confirmation Rollings Oliver LLP, the London based restructuring Advisor niche, has officially announced on their website: “Michael David Rollings and Steven Edward Butt of Rollings Oliver LLP (“the Joint Special Administrators”) were appointed as Joint Special Administrators of Boston Prime Limited (“the Company”) on Monday 9 February 2015 by order of the High Court.”
Rollings Oliver LLP – Joint Special Administrators
Moreover, Rollings Oliver LLP has outlined the main objective of the Special Administration, which involves evidently safeguarding the return of clients’ assets as fast as possible in the given timeframe. In alignment with the objective and the outset of the administration, the Joint Special Administrators has started the process of retrieving relevant information. Clients will be requested to provide details upon the amounts due to them; in return they will receive detailed instructions to file a claim to the Special Administration as well as the due date.
Now that Boston Prime is under special administration, the Joint Special Administrators have set up a dedicated website and email address, for the purpose of communicating and receiving relevant information upon the case.
The Joint Special Administrators also have incorporated a FAQ section on the website, providing answers to the most common asked questions as well as more in-depth background information on the case.
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