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    Articles Bahamas Belize Canada Cayman Islands Featured Fraud Investment Ireland Liquidations & Insolvencies Switzerland USADecember 28, 2011

    Bahamas-based Montaque Capital insolvent by US$10.4 m but may be much more, say liquidators

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    By
    12 years ago

    Topics

    Bahamas Belize Canada Cayman Islands Fraud
    Investment Ireland Liquidations & Insolvencies Switzerland USA
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    Keywords

    Anderson & Strudwick Ascendiant Capital Markets Bateman Financial BMA Securities Capital Growth Financial
    Capital Path CIBC Clariden Leu Ltd. Edison Sumner Edmund Rahming Emerson Equity Euro Pacific Canada Fidelity World Advisors Franklin Templeton Investments Funds GAM Fund Gibraltar Global Securities Inc. Global Maxfin Global Securities Corporation Kenneth Krys KRyS Global Legacy Capital Macquarie Private Wealth MFS Meridian Montaque Capital Partners Ltd. Oppenheimer Owen Bethel Paulette Bethel Stock USA Investments
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    Highlights

    • Initial claims by customers totaled US$13.6 m, compared with known assets of US$3.2 m
    • Eventual value of customer claims will be "significantly more" than US$13.6 m, say liquidators
    • Payments of "millions" of dollars to related entities is an 'area of concern'
    • No company audit since 2008, say liquidators

    Related Content

    Initial claims by customers of Bahamas-based Montaque Capital Partners Ltd. exceed known assets by US$10.4 million, say the firm’s liquidators. The gap could widen substantially, though, since the eventual value of customer claims will be “significantly more”.

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