Grateful if someone who knows about these things can enlighten with a few answers although I appreciate it's hard without knowing the reality.
Got about 200k in various stocks and paid a lot of margin so liquidation value about 170k.
FT are suggesting IG, Capital Spreads and ETX as possible buyers but would the assets just transfer over without any loss to the client to any acquirer? I appreciate it depends on what they pay. All depends on what they perceive a client base of 5,000 or so is worth. Is a non-painful (for clients) takeover realistic given (based on the FT) the takeover company would have to pay about 5m to balance the books? (About £6m should be still be there in cash and if there is a black hole of 10 to 12m that leaves between 4m to 6m deficit). Or is there a scenario where the takeover company just takes the accounts in a pre-pack - what would s/bet account holders get then?
If no takeover do they just liquidate all assets and clients - retail and prof get paid out as creditors pro-rata and claim the deficit (50k for Professional and I believe 85k for retail) from the FSA?
Any chance of suing the auditors if, as alleged in the FT, they audited whist alleged fraud took place?
Any difference if there is a takeover situation for retail clients and professional clients? I'm a retail client although they did try to get me to sign-up for prof client status but I advised my circumstances didn't fit.
Sorry for the simplistic questions and multiple questions but my mind is a bit middled after all this.
I think Spreadex just took-over MF Global client list but not the actual accounts i.e. a mailing list in the hope broke clients would trade with them.
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