July 30, 2009
Dear clients, dear visitors,
Since the opening of CROWN FOREX SA’s bankruptcy on May 19, 2009, we have received many statements of claims.
The statements and attached documentation are currently in the process of being analysed. They will be decided upon and a creditors’ plan shall be drafted. Due to the number of documents received, this will last several months.
No further trading
It appeared in the course of the bankruptcy process that a forex trading platform was and may still be illegally operated abroad under the name of CROWN FOREX SA.
Any trading activities on this platform that may have taken place after May 19, 2009 at 8:00 (Swiss time) are not binding upon CROWN FOREX SA, in liquidation.
Investments with Crown Forex SA, in liquidation through third financial intermediaries
It also recently appeared that US financial intermediaries have been collecting funds from investors for alleged further investment with an entity named CROWN FOREX before and after the opening of the bankruptcy of CROWN FOREX SA, in liquidation. Those investors were told that their funds would be held in segregated accounts.
Please note that:
- since December 9, 2008, Laurent WINKELMANN and Philippe von BREDOW are the only authorized legal representatives of CROWN FOREX SA ; no power of attorney have been delivered to any third person or entity since that date
- since December 9, 2008 no new client and no new account have been accepted by CROWN FOREX SA
- since December 9, 2008, Laurent WINKELMANN and Philippe von BREDOW have not authorized any reimbursement to investors in CROWN FOREX SA, in liquidation and that since December 24, 2008, the Swiss Financial market Supervisory Authority (FINMA), in order to insure equal treatment of creditors, has forbidden any reimbursement to investors.
- since May 19, 2009 at 8:00 (Swiss time), CROWN FOREX SA has suspended its activities and has accepted or received no fund from investors
- CROWN FOREX SA, in liquidation does not hold segregated bank accounts
- CROWN FOREX SA, in liquidation does not hold any account with ASSOCIATED BANK in the US
- CROWN FOREX SA, in liquidation and CROWN FOREX, LLC are two different and separate entities
- Account statements with false account numbers may have been issued in the name of CROWN FOREX SA in favour of persons who are not registered as client of CROWN FOREX SA, in liquidation. Account statements may therefore not be sufficient to substantiate the existence of a contractual relation or of a claim against CROWN FOREX SA, in liquidation.
Any person having been made to believe anything contrary to the above, may wish to contact the financial intermediary they have dealt with, seek legal advice and/or contact the local enforcement or regulatory Authorities.
The Liquidators of CROWN FOREX SA neither provide advice nor acknowledge receipt of claims from investors.
All relevant further general information that can be publicly disclosed on the bankruptcy of CROWN FOREX SA will be posted on this web site. The FINMA will continue to post on its web site www.finma.ch and in the Swiss Official Gazette of Commerce www.shab.ch all legal information pertaining to the rights and obligations of the creditors and debtors in the estate of CROWN FOREX SA, in bankruptcy.
Laurent WINKELMANN – Philippe von BREDOW