Direct FX Trading Pty Ltd

Case studies

Direct FX Trading Pty Ltd

Insolvency case information

Details

Appointment type:

Court liquidation

Appointment date:

11 October 2018

ACN:

120 189 424

Appointee(s):

Jason Tracy and Vaughan Strawbridge

Office:

Sydney

Enquiries:

General enquiries
Soni De Silva
+61 2 8260 6633
Email

URL:

http://www.deloitte.com/au/directfx

Related Links

ASIC
Insolvency information sheets

Help for workers who have recently lost their jobs
Job Services Australia publication

Taking care of yourself after retrenchment or financial loss
Beyond Blue publication

Background information

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).

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.

Related documents

Sealed Court Orders
11 October 2018

Formal POD
11 October 2018

Direct FX Trading Pty Ltd