Jason Tracy and Vaughan Strawbridge were appointed as Joint and Several Liquidators of Direct FX Trading Pty Ltd (“Direct FX”) on 11 October 2018, by an Order of the Supreme Court of NSW.
Direct FX provided foreign exchange services. On 26 April 2018, the Australian Securities and Investments Commission (ASIC) suspended its Australian Financial Services License (AFSL 305539).
On 7 May 2021 Vaughan Strawbridge resigned as one of the Joint and Several Liquidators of Direct FX and Jason Tracy remains the sole Liquidator.
Current Update (September 2024)
The Liquidator has received the following directions regarding the distribution of funds to Eligible Beneficiaries from the Supreme Court of New South Wales on 23 August 2024 (case number: 2020/00152668):
The Liquidator is justified in treating the Identified Beneficiaries (as that term is defined in the affidavit of the First Plaintiff sworn 4 June 2024 (Affidavit)) who have a credit balance of less than AUD$100 as having no right to participate in the distribution of funds;
The Liquidator is justified in distributing the Outstanding Client Balances (as that term is defined in the Affidavit) on a pro rata basis to the seventy-four (74) Proposed Beneficiaries (as that term is defined in the Affidavit); and
That the expenses associated with this application including expenses associated with the distribution to the seventy-four (74) Proposed Beneficiaries are paid from the Outstanding Client Balances.
Further information regarding the Liquidator’s application can be obtained from the Final Court Judgement and Orders dated 23 August 2024 and the circular dated 18 June 2024. These documents are available for download from the ‘Related documents’ section of this webpage.
The Liquidator has written to the 74 Eligible Benefeciaries regarding the process to claim their distribution.
