Alpari UK Unsecured Clients to Get 75-80 Cents per USD, KPMG Costs £10.5 mln
Posted: Mon Feb 15, 2016 3:57 pm
The special administrator of alpari UK, KPMG, has issued the second progress report on the bankruptcy proceedings of Alpari UK. Starting from the day of the appointment of the special administrator, until the 18th of January 2016, the costs associated with the work of KPMG have totaled £10.5 million ($15.1 million). The amount includes 24,370 hours at an average rate of £430 per hour.
According to the document, the Financial Services Compensation Scheme (FSCS) has covered 13,590 client claims and has compensated them with $48.3 million distributed to 10,444 clients, which comes to an average of $4624 per client. Meanwhile ... (read more)