A Queen St forex broker whose business collapsed leaving clients – mostly used-car importers – owed $13m, is mulling bankruptcy after being served with a $4m claim by liquidators.
The latest liquidators report for Forex Brokers, prepared by Christopher McCullagh and Stephen Lawrence of PKF, claimed the company’s sole director Russell Maher had breached his duties under the Company Act by continuing to trade for four years while incurring “significant losses”.