Recently, based on the liquidation announcement pertaining to HALIFAX (a retail forex broker headquartered in Sydney, Australia), its funding
gap of compensation for its bankruptcy has been up to USD 34.51
million. It is predicted that a verdict on proceedings for clients funds
will be issued in several months.To get more news about
WikiFX, you can visit wikifx.com official website.
Can investors successfully get their money back?
Given the shortage of clients funds, the situation may occur where investors cannot receive their total trust assets whereas they all are
possible to get the majority of their funds.
Distribution of the amount received by investors is based on the issues under the ongoing deliberation of the court, including the date
of award for compensation and whether the distribution is conducted
based on the orders of closing positions.
When can investors receive the compensation?
Progress of the fund distribution depends on various factors, involving court decisions and the date for sales of assets, costing at
least six months after the receipt of the courts final decision. This
means that liquidators can only commence their adjudication procedure
following the final hearing and all relevant directions of the court
issued.
