Exclusive: Prospero Markets client repayment delayed as Court orders a Contradictor
The Judge overseeing the Prospero Markets case, Justice Cheeseman, has ordered that BRI appoint a Contradictor to act in the proceedings.
The Judge overseeing the Prospero Markets case, Justice Cheeseman, has ordered that BRI appoint a Contradictor to act in the proceedings.
BRI Ferrier expects that Prospero Markets client trust funds can be distributed by around September to November 2024.
Liquidator BRI anticipates a (relatively short) timeframe of 2-3 months until it can refund Prospero Markets client claims.
It is unclear at this stage how much client money is still held at Prospero Markets, and how much (if any) is missing.
BRI Ferrier will be appointed as liquidator for Prospero Markets – BRI also oversaw the bankruptcy of Australia CFDs broker USGFX.
Prospero Markets is an Australia based broker which services mainly Chinese speaking clients, both in Australia and across the Far East.