Exclusive: Flowbank bankruptcy will see just 70%-80% refund to third class claims
Flowbank liquidator Walder Wyss is still seeking a potential buyer for London Capital Group (LCG).
Flowbank liquidator Walder Wyss is still seeking a potential buyer for London Capital Group (LCG).
The LCG board reports that the Introducing Broker business has accelerated during 2024, and will allow LCG to show a profit for H2 2024.
Walder Wyss is still seeking a potential buyer for London Capital Group (LCG).
Once a client’s positions have been sold in full, the cash will be transferred to their bank account, in EUR or CHF.
FNG Exclusive… FNG has learned that the liquidators of bankrupt Swiss neobroker FlowBank have issued an updated circular to creditors, […]
The halt in operations at LCG last month occurred in the aftermath of the bankruptcy of the company’s parent FlowBank in Switzerland.
The appointment of the Liquidators has currently made it impossible for LCG Capital Markets Limited to carry out its operations.
LCG is owned by Switzerland based neobroker / neobank FlowBank SA, which is now in bankruptcy and liquidation.
FlowBank’s controlling shareholders have engaged the services of Thomas Borer, a former Ambassador of Switzerland to Germany.
CoinShares’s exposure to FlowBank SA as a customer is seen as immaterial, with deposits totalling approximately £100,000.