Prop's holding company appointed Cork Gully on June 3 after a trading injunction
Former traders of proprietary trading firm
Futex have called for an independent investigation into the
collapse of the firm, after the deadline for creditors to vote
on the current administrator’s formal proposals
passed on Tuesday.
According to former traders and creditors
in the case against Independent Derivative Traders (IDT)
– the holding company of prop firm Futex –
insolvency firm Griffins has been working with traders to
submit votes on administrator Cork Gully’s formal
As is almost always the case in such
administrations, Cork Gully was appointed by the directors of
the insolvent firm.
The calls come after the current
administrators were, "carefully selected by the Futex
directors," according to one former trader.
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