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Global Trader Europe investors to get up to 95% compensation

Segregated fund clients of collapsed investment broker Global Trader Europe Limited will receive up to 95 per cent of their positions as at 15 February 2008 when the company went into liquidation.

Liquidator Smith & Williamson says it will distribute approximately £2m to the 160 segregated fund clients by the end of April, subject to any appeal or application.

S&W says the total final dividend for the 250 unsecured creditors is estimated to be in the region of 68 pence in the pound and they can expect payment by early May.

Smith & Williamson head of restructuring and recovery and joint liquidator of global Stephen Cork says: “We will now be in contact with all creditors who have already submitted a proof of debt.

“Any creditor who has not yet submitted a proof should do so as soon as possible, as we intend to make payments to creditors within two months from today, subject to any appeals.”

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