The Meeting of Creditors of Halifax Held in Sydney on Dec. 5th

Case review

On November 23th, Halifax suddenly announced that all investors account was suspended and the deposit and withdrawal was unavailable.

Pursuant to the regulatory information, now Halifax has entered the bankrupt process. Faced with the sudden case, investors had no better choice but to wait for the result.

System notice of Halifax

Case progress

The article, With Withdrawal Unavailable, Halifax Entered Bankrupt Process, published by FXEYE, detailedly reported the overall clearance schedule of Halifax's bankruptcy.

According to the notice of Ferrier Hodgson official website, the first meeting of creditors would be held at Wesley Conference Centre, SYDNEY on December 5th, 2018.

Today, FXEYE team in Australian came to the meeting to learn the latest progress.

Photo of the first meeting of creditor

Summary of meeting

Meeting stages:

- Introductio

- company overview

- administration proce

- FAQ

The vote to appoint a committee of inspection (COI), if necessary, and the result of voting will be showed on Ferrier Hodgson official website.

About FAQs

1. Reviewing Liquidator

In charge of the assets, operation and everything of Halifax, reviewing liquidator was assessing the financial situation of Halifax urgently including accounts overall review based on customer's rights and interests.

2. How is investor's transaction positions going？

Based on all assets of company and rights and interests of customers, the account overall review hasn't been finished by reviewing liquidator, and all investors'account have been suspended (though they have the choice to sell their positions).

This will be involved in the investigation based on the account owed to investors by company and that based on the company's ability to pay off its debts.

At the same time, the reviewing liquidator began to carry out the investigation, and would constantly update the progress and schedule of it.

3. Can investors get their money back？

Now, it is uncertain that if investors can get their all money back. And the liquidator will review Halifax's financial situation as soon as possible including accounts overall review based on customer's rights and interests. Meanwhile, the liquidator will constantly update the progress and schedule of the investigation.

4. Can investors sell their positions？

If you want to sell their positions, as usual, you can log in the trading system And close your account, with the trading system operating. and you don't have the permission to conduct new trade except for closing your account. With all investors' account suspended, the money involved in closing account will be froze.

5. How long will the whole clearance process last？

Unfortunately, due to this problem of complexity and the investigation of necessity, it is uncertain that if the investors can get all money back.And on the basis of the complexity of law, the process will probably last a few months, which depends on the court's instruction.

Photo of the first meeting of creditor

About some parts of FAQs covering Halifax staff's replies on site, if you want to learn more, please view the original article by downloading FXEYE APP.

About the matters like voting on site and that if creditors and investors agree that the company is took over by FH, the results weren't showed in the meeting.

FXEYE will pay close attention to the case and notify the investors in China as soon as possible.