London, UK - Liquid Markets, originally from Cyprus FCA regulated CFDs and Forex broker which announced cease of their operations on the 27th of January as a result of the decision of the SNB to scrap the long lasting 1.20 EURCHF floor on Thursday the 15th of January.
There are new developments from Liquid markets. Although the company claims to have explored different options to recapitalize the business, they were not successful. Hence, the management took necessary steps to apply for an order to put the company under Special Administration. Hence, Matthew Haw, Graham Bushby and Matthew Wild of Baker Tilly Restructuring and Recovery LLP (“the Joint Special Administrators”) have been appointed as Joint Special Administrators of Liquid Markets on Monday 2 February 2015 by order of the High Court as per FCA regulation terms and conditions.
According to the Liquid Markets administration statement, the freshly appointed Joint Special Administrators will be working to reconcile the client positions and to facilitate release of client funds as soon as practicable. To achieve their objectives, special joint administrators will be contacting Liquid Markets clients to gather more information about their positions, the sum of their accounts and any other due activities. Under the same objective, those of affected clients will receive details on how and when to submit their claims.
How to contact the joint special administration:
The Joint Special Administrators have set up a dedicated Joint Administration microsite facilitate any client other public queries as well as updating the public regarding the status of the action taken by them.
Furthermore, thse affected may also contact the administrators directly via the following email too [email protected] or by phone on 0203 201 8000.
Special Joint Administrators have also set up clear FAQs for those with funds at the company. The following are important selections from the FAQ:
How will I know what is due to be paid to me?
According to the FAQ client accounts have to be reconciled in order for the Joint Special Administrators to be able to provide each client with a statement of their account. This will provide the value of any claim and will also advise of the classification of the claim. Clients will then be asked to confirm the amount indicated on their statements and if they dispute the amount further information will be provided by the administrators.
What if I owe money to the Company?
Unfortunately according to the statement, you will be asked to pay the money you owe too! The Joint Special Administrators will be in touch to request payment of that money and provide account details for payment.
Matthew Robert Haw is licensed to act as an Insolvency Practitioner in the UK by the Institute of Chartered Accountants in England and Wales
Graham Bushby is licensed to act as an Insolvency Practitioner in the UK by Institute of Chartered Accountants in England and Wales
Matthew Richard Medley Wild is licensed to act as an Insolvency Practitioner in the UK by Institute of Chartered Accountants in England and Wales
LQD Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, reference number is 603186. Registered office is 25 Farringdon Street, London EC4A 4AB with company number 08319222.
The affairs, business and property of the company are being managed by the Joint Special Administrators who act as agents of the company and without personal liability