On July 10, 2012, a petition in bankruptcy was filed by Peregrine Financial Group, Inc. (“Debtor”), commencing Case No. 12-27488 in the United States Bankruptcy Court for the Northern District of Illinois.
The Debtor conducted multiple lines of business, including the forex customer business. As of the filing date, trading in the forex customer accounts has been frozen. The Debtor’s liquidity providers have terminated their forex contracts with the Debtor, and the Trustee intends to close-out open forex positions in forex customer accounts, pending determination of pricing for liquidating such transactions. A motion will be filed in the Bankruptcy Court related to forex customer accounts in the coming days and forex customers will receive a notice of that motion. The motion will be posted on this website.