Jason Tracy and Vaughan Strawbridge were appointed as Joint and Several Liquidators of Direct FX Trading Pty Ltd (“Direct FX”) on 11 October 2018, by an Order of the Supreme Court of NSW.
Direct FX provided foreign exchange services. On 26 April 2018, the Australian Securities and Investments Commission (ASIC) suspended its Australian Financial Services License (AFSL 305539).
On 7 May 2021 Vaughan Strawbridge resigned as one of the Joint and Several Liquidators of Direct FX and Jason Tracy remains the sole Liquidator.
Current Update
The liquidators are currently undertaking an urgent assessment of the Company to ascertain the asset position including the position of all client monies.
As such, all client monies are frozen as at 11 October 2018 and withdrawals will not be able to be made until the liquidators complete their assessment. Given the number of bank accounts identified in the name of the Company and the number of clients we are advised exist, the liquidators’ assessment is likely to require a significant amount of time to complete and may involve an application to court for directions.
In the interim, creditors and investors are urged to please advise us of the amount you believe is outstanding to you, including evidence to support same (including bank statements, other statements from the company, etc.).
A further update will be provided by 8 November 2018 and we appreciate your patience during this process.
