Exclusive FNG… It seems that the bankruptcy of the retail FX and the CFDS Broker Prospero Markets will prove to be okay, at least for most former customers, employees and creditors of the company.
Prospero Markets was closed by the Australian Police in late 2023 as part of a wider action against a ring of money laundering associated with the company’s property and management. The Prospero Markets ASIC license was postponed in December 2023 and was officially annulled in September 2024.
Repayment of customer capital
FNG has learned through judicial records made in Australia that Prospero, Bri Ferrier, paid about $ 18.1 million to customers with accepted rights and bank account
The details provided, from $ 19.2 million to confirmed customer money held at Prospero at the time of collapse. Payments were made in mid -July 2025.
It remains about $ 1.1 million withheld by customers with accepted rights, but these customers have failed to provide bank account information. Bri has written to these affected customers who request bank account information by October 15, 2025, before the next distribution at
November 2025. If these customers do not provide bank account information, their funds will be paid to ASIC that have not been requested by the money at the end of the clearance.
Bri Ferrier had hoped earlier this year to pay all customer claims and creditor against Prospero Markets by the middle of the year. However, the judicial proceedings were extended due to the complexity and the parties involved, which included the appointment of contradictory lawyers to present the court with controversy where necessary.
Unpaid debt in Prospero
Although the liquidators are optimistic about the return of all/of most creditors’ funds, there are still some reasons (and possibly irreparable) debts due to the company.
BRI investigations have found that the company’s company was operating in parallel with a relative entity, Prospero Global LLC, the offshore (Saint Vincent and Grenadines) of Prospero. Accounting records show that the company paid some expenses by Prospero Global LLC, including MT4 licenses, IT costs and payroll expenses. Preliminary surveys show that these expenses may amount to a total of $ 800k or more. There is no evidence of the company’s return and therefore it represents an excellent debtor claim. The previous administration did not significantly respond to BRI investigations and the debtor’s precise quantum or Prospero Global LLC’s ability to return is currently unknown.
Employee claims
The liquidators estimate that the total priority (employee) claims to be about $ 1.2 million to $ 1.3 million, subject to the final trial of the claims. Based on recovery to date, Bri identified There are sufficient funds to fully execute employee credits’ claims. As a result, Bri intends to declare a dividend to employee creditors by October 24, 2025. Any creditors who have not already done so are required to pay receipt by September 18, 2025, otherwise they may be excluded from the upcoming priority dividend.
Unaccountable creditors
As far as non -secured creditors are concerned, total estimated claims increased to $ 4.2 million. Illegal allegations consist of a $ 850K commercial creditors, ASIC contributions and investigation claims of $ 440K, ATO net tax liabilities of $ 35k, lease terminating claims of owners of $ 1.4 million.
The liquidators predict this There will be sufficient funds to declare a dividend to non -secured creditors. However, the quantum of performance will depend on whether there is a recovery from the possible claim specified against Prospero Global LLC, as mentioned above from the extent of valid claims in the non -secured creditor group. Further updates will be provided as the liquidation progresses.
The time for any refund to unpaid creditors (and then shareholders) will be subject to the outcome of public examinations and whether any claim against Prospero Global LLC (probably through disputes) should be sought. If no claim is sought, Bri estimates that clearing could be finalized within the next six to 12 months. Otherwise, the difference may extend the clearance of at least one to two years, noting that Prospero Global LLC is registered with the jurisdiction of St. Vincent and Grenadina. Bri also notes that this time frame could also be affected by further surveys by the various regulators (including ASIC, AFP, AFSA and Ato).