FNG Exclusive… FNG has learned via court filings made in Australia that the liquidators of bankrupt Retail FX and CFDs broker Prospero Markets now expect that repayment of funds to former clients of the company will be delayed, beyond a previously projected between-September-and-November 2024 timeline.
BRI Ferrier, liquidators for Prospero Markets, revealed that the Judge overseeing the case, Justice Cheeseman, has ordered Ms Yuya Huang and Mr Lei Zhang be joined as defendants to the proceeding, and that BRI appoint a Contradictor to act in the proceedings.
The Contradictor’s role will be to assist the Court by making counterarguments against BRI as Liquidators, and presenting a balanced view on issues involving competing interests – such as whether BRI’s remuneration and legal fees are paid out of trust funds or general liquidation funds. Contradictors are commonly joined to proceedings of…
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