Insolvency Notices

Company

AFX MARKETS LTD

Notice Type
Other Corporate Insolvency Notices
Publication date
23/03/2020
Edition
The London Gazette
Notice ID
3538334
Notice Code
2408

In the High Court of Justice

Business and Property Courts of England and Wales Court Number: CR-2019-005638

In the matter of The Investment Bank Special Administration Regulations 2011

AFX MARKETS LTD

07612002

Trading Name: AFX Capital; AFX Group; Quantic Prime; STO; SuperTradingOnline UK (STO UK)

Registered office: Greg’s Building, 1 Booth Street, Manchester M2 4DU

Principal trading address: 2nd Floor, 33 Sun Street, London EC2M 2PY

NOTICE OF CLIENT MONEY BAR DATE

Under Regulations 12a and 12e of The Investment Bank Special Administration Regulations 2011 and Rule 138 of The Investment Bank Special Administration (England And Wales) Rules 2011

Jonathan E Avery-Gee and Daniel Richardson of CG&Co, 1 Greg’s Building, 1 Booth Street, Manchester M2 4DU were appointed as Joint Special Administrators (the “Joint Special Adminis-trators”) of AFX Markets Ltd (in Special Administration) (“AFX”), with company number 07612002 on 27 August 2019 pursuant to an application made by the Financial Conduct Authority under Regulation 5(1) of The Investment Bank Special Administration Regulations 2011 (the “Regulations”).

The Joint Special Administrators hereby give notice, in accordance with Regulations 12A and 12E, as follows: 1. The Joint Special Administrators consider that it is necessary, in order to expedite the return of client money, to set a bar date of 17.00 hours (GMT) on 1 June 2020 (the “Client Money Bar Date”) for the submission of claims (“Client Money Claims”).

2. The Joint Special Administrators gave notice of their appointment in the London Gazette on 4 September 2019. The Joint Special Administrators consider that the time between publication of the notice of the special administration and the Client Money Bar Date is a reasonable time for clients to be able to calculate and submit their Client Money Claims.

3. The Client Money Bar Date only applies to client money and does not apply to other client assets. This notice relates only to Client Money Claims and does not relate to any other type of claim you may have against AFX.

4. This notice will:

a) be made available to all clients of AFX whose Client Money Claims the Joint Special Administrators are aware of, provided the Joint Special Administrators have a means of contacting those clients;

b) be made available to all those persons whom the Joint Special Administrators believe have a right to assert a security interest or other entitlement over the client money, provided the Joint Special Administrators have a means of contacting those persons;

c) be advertised in the London Gazette;

d) be sent to the Financial Conduct Authority; and

e) be placed on the dedicated AFX webpage on the CG&Co. website.

5. If you fail to submit your Client Money Claim by the Client Money Bar Date, the Joint Special Administrators will not be able to guarantee that your Client Money Claim will be satisfied in whole or in part, or indeed at all in certain circumstances.

6. If you believe that you have a Client Money Claim, please follow the instructions provided to you in our letter dated 20 March 2020 and our progress report which is available to view at www.cg-recovery.com/afxmarkets.

7. Unless the Court orders otherwise, every claimant who submits a Client Money Claim under Regulation 12A must bear the cost of making its own Client Money Claim, including the costs incurred in providing documents or evidence or responding to requests for further information.

8. Receipt of this notice does not guarantee that you have a Client Money Claim or are otherwise entitled to receive a distribution of client money.

9. Any general queries in relation to this notice should be directed to 0330 995 1241 or afxmarkets@cg-recovery.com. We encourage any client unsure about the scope and effect of this notice to seek independent professional advice from a legal or financial advisor.

The Joint Special Administrators act as agents of AFX without personal liability.

Date of Appointment: 27 August 2019

Office Holder Details: Jonathan E Avery-Gee (IP No. 1549) and Daniel Richardson (IP No. 12650) both of CG&Co., Greg’s Building, 1 Booth Street, Manchester M2 4DU

Further Details contact: Bill Brandon, Email: afxmarkets@cg-recovery.com, Tel: 0330 995 1241

Jonathan E Avery-Gee, Joint Special Administrator

20 March 2020