On 13 August 2015, the Liquidators commenced proceedings in the Supreme Court of New South Wales seeking a number of directions and declarations in relation to the treatment and distribution of client funds (the Proceedings).

The directions and declarations sought from the Court in the Proceedings are in respect of each client's entitlement to the funds held in the CSAs and any related recoveries.

 

• Client Monies Investigation Report
• Client Monies Affidavit
  
• Next steps
  
• Appendices (1–138)

 

Client Monies Investigation Report

We have prepared a report and supporting documents to detail the findings of our investigations as to the operation of the CSAs maintained by BBYL and its dealings with client monies including its dealings with counterparties. Refer to BBY Client Monies Investigation Report (PDF 2.3MB): 22 December 2015.

 

Client Monies Affidavit

In addition to the client monies investigation report, the Liquidators have also lodged a supporting affidavit on 23 December 2015 in relation to the client monies. Refer to Client Monies Affidavit (PDF 6.3MB) : 23 December 2015. Further appendices in relation to the affidavit can be found below from Appendix 72 to Appendix 138.

 

Next steps

Refer to the Client Monies: Court Directions Proceedings page for latest news on the directions proceeding.

 

Appendices

• Appendix 1 – Group Structure (PDF 131KB)
• Appendix 2 – BBY Operations Staff Structure Chart 2014 (PDF 42KB)
• Appendix 3 – BBYH and BBYL Financial Summary FY2010 to FY2014 (PDF 130KB)
• Appendix 4 – BBYH Signed Financial Statements: June 2010 (PDF 968KB)
• Appendix 4 – BBYH Signed Financial Statements: June 2011 (PDF 923KB)
• Appendix 4 – BBYH Signed Financial Statements: June 2012 (PDF 1.44MB)
• Appendix 4 – BBYH Signed Financial Statements: June 2013 (PDF 0.99MB)
• Appendix 4 – BBYH Signed Financial Statements: June 2014 (PDF 1.86MB)
• Appendix 4 – BBYL Signed Financial Statements: June 2011 (PDF 1.49MB)
• Appendix 4 – BBYL Signed Financial Statements: June 2014 (PDF 2.34MB)
• Appendix 5 – Firestone Underwriting Agreement, 18 September 2009 (PDF 825KB)
• Appendix 6 – Lazorne Report, 28 November 2014 (PDF 214KB)
• Appendix 7 – Client Application Form, Issued December 2014 (PDF 544KB)
• Appendix 8 – BBY Financial Services Guide, February 2014 (PDF 75KB)
• Appendix 9 – BBY ASX, APX and International Trading Terms, March 2014 (PDF 207KB)
• Appendix 10 – BBY CHESS Sponsorship Agreement, March 2014 (PDF 109KB)
• Appendix 11 – Exchange Traded Options PDS, March 2013 (PDF 214KB)
• Appendix 12 – Futures Terms and Conditions, July 2014 (PDF 121KB)
• Appendix 13 – BBY Online Professional Futures and Derivatives PDS, June 2012 (PDF 137KB)
• Appendix 14 – Desk FX Terms and Conditions, June 2013 (PDF 138KB)
• Appendix 15 – BBY Online FX and Commodities PDS, June 2012 (PDF 178KB)
• Appendix 16 – BBY Online Account Terms, June 2013 (PDF 183KB)
• Appendix 17 – BBY Online Trade PDS, June 2013 (PDF 756KB)
• Appendix 18 – BBY Carbon Trading Terms and Conditions, February 2012 (PDF 54KB)
• Appendix 19 – Equity and ETO Trust Movements Report, 15 May 2015 (PDF 11KB)
• Appendix 20 – Futures AUD Reconciliation, 15 May 2015 (PDF 133KB)
• Appendix 21 – FX AUD Reconciliation, 15 May 2015 (PDF 186KB)
• Appendix 22 – SCMA Institutional Trading Agreement, 21 June 2012 (PDF 1.72KB)
• Appendix 23 – SCMA White Label Trading Agreement, 21 June 2012 (PDF 1.50MB)
• Appendix 24 – Appendix has moved to Confidential Exhibits
• Appendix 25 – SCMA Letter to Arun Maharaj, 4 December 2014 (PDF 108KB)
• Appendix 26 – SCMA Letter of Termination, 1 December 2014 (PDF 302KB) 
• Appendix 27 – SCMA Letter of Agreement, 5 January 2015 (PDF 119KB)
• Appendix 28 – Saxo 1to1 Funding Report, May 2015 (PDF 57KB) 
• Appendix 29 – Saxo AUD Reconciliation, 15 May 2015 (PDF 88KB) 
• Appendix 30 – Listing of House Ledger Accounts across Product Lines (PDF 65KB)
• Appendix 31 – Extract of ADM Statements, 4 August 2015 (PDF 121KB)
• Appendix 32 – Extract of ABN Statements, 15 May 2015 (PDF 10KB)
• Appendix 33 – Hallifax Remittance Advice of Funds Transfer, 15 June 2015 (PDF 85KB)
• Appendix 34 – Receipt of Saxo Counterparty Funds, 2 December 2015 (PDF 11KB)
• Appendix 35 – BBY Bank Balance as at Appointment Date (PDF 82KB)
• Appendix 36 – CMC Markets Counterparty Confirmation, 30 August 2015 (PDF 45KB)
• Appendix 37 – ASX Returned Collateral Bank Statement, 3 August 2015 (PDF 11KB)
• Appendix 38 – BBY Bank Balances at 4 December 2015 (PDF 73KB)
• Appendix 39 – Client Monies Analysis for Scenario A (PDF 67KB)
• Appendix 40 – Client Monies Analysis for Scenario B (PDF 68KB)
• Appendix 41 – Client Monies Analysis for Scenario C (PDF 74KB)
• Appendix 42 – Client Monies Analysis for Scenario D (PDF 74KB)
• Appendix 43 – BBY Related Parties (PDF 81KB) 
• Appendix 44 – BBY Bank Account Listing 'Bank Account Apr15.xls' (PDF 106KB)
• Appendix 45 – Summary of Bank Accounts and Pool Categorisation (PDF 117KB)
• Appendix 46 – Profiling of Bank Accounts and Transaction Data (PDF 84KB)
• Appendix 47 – BBYL Disclosure Hotline and Inbox Communications (PDF 86KB)
• Appendix 48 – Conversion of Currency Transactions (PDF 292KB)
• Appendix 49 – Funds Transfer Matrix (High & Medium - High Match Grades Only) (PDF 87KB)
• Appendix 50 – Process of obtaining electronic server data & PC images (PDF 82KB)
• Appendix 51 – Equity & ETO Banking (Processing and Requirements), August 2014 (PDF 62KB) 
• Appendix 52 – STG Facility Offer Letter, 12 December 2012 (PDF 2.5MB)
• Appendix 53 – EquityETO Funding Movements Diagram 2014 (PDF 116KB)
• Appendix 54 – EquityETO Margin Funding Movements Diagram 2014 (PDF 99KB)
• Appendix 55 – EquityETO Funding Movements Diagram, March 2015 (PDF 102KB)
• Appendix 56 – EquityETO Margin Funding Movements Diagram, March 2015 (PDF 100KB)
• Appendix 57 – Graph of Funds Movements Between FAC 106 and Equity 541, June 2014 to May 2015 (PDF 84KB)
• Appendix 58 – Graph of Funds Movements Between Equity 541 and General 576 June 2014 to May 2015 (PDF 83KB)
• Appendix 59 – Declaration of Limited Trust, 30 June 2012 (PDF 271KB)
• Appendix 60 – GMI Report, 24 June 2014 (PDF 115KB)
• Appendix 61 – Futures AUD Reconciliation, 23 June 2014 (PDF 63KB)
• Appendix 62 – Futures AUD Reconciliation, 24 June 2014 (PDF 62KB) 
• Appendix 63 – Saxo Update Paper (undated) (PDF 108KB)
• Appendix 64 – Saxo Update Paper: Metadata (PDF 86KB) 
• Appendix 65 – Saxo Upload Transactions (PDF 87KB)
• Appendix 66 – Saxo Termination Transactions (PDF 71KB)
• Appendix 67 – BBY Solvency Statement, 8 December 2014 (PDF 25KB)
• Appendix 68 – Client Application Form July 2014 (PDF 795KB)
• Appendix 69 – Direct Debit and Credit Form August 2012 (PDF 123KB)
• Appendix 70 – Futures PDS June 2011 (PDF 167KB)
• Appendix 71 – Desk FX and Commodities PDS August 2012 (PDF 203KB)
• Appendix 72 – Curriculum Vitae: Stephen Vaughan (PDF 148KB) 
• Appendix 73 – Curriculum Vitae: Ian Hall (PDF 148KB)
• Appendix 74 – ASIC Extract BBY ADVISORY SERVICES PTY LTD (PDF 311KB)
• Appendix 75 – ASIC Extract BBY HOLDINGS PTY LIMITED ACN 075 187 432 (PDF 311KB)
• Appendix 76 – ASIC Extract BBY HOMETRADER PTY LTD ACN 134 838 207 (PDF 311KB)
• Appendix 77 – ASIC Extract BBY LTD ACN 006 707 777 (PDF 311KB)
• Appendix 78 – ASIC Extract BBY NOMINEES PTY. LTD. ACN 007 001 443 (PDF 311KB)
• Appendix 79 – ASIC Extract BBY PROTECTION NOMINEES Pty Ltd (PDF 311KB)
• Appendix 80 – ASIC Extract BROKER SERVICES AUSTRALIA PTY LTD (PDF 311KB)
• Appendix 81 – ASIC Extract OPTIONS RESEARCH PTY. LTD. ACN 006 770 627 (PDF 311KB)
• Appendix 82 – ASIC Extract SMARTRADER LIMITED ACN 115 752 102 (PDF 311KB)
• Appendix 83 – ASIC Extract TILBIA NOMINEES PTY LTD ACN 007 001 578 (PDF 311KB)
• Appendix 84 – St George Charge (PDF 1.1MB)
• Appendix 85 – Section 439A Report to Creditors, 12 June 2015 (PDF 3.7MB)
• Appendix 86 – ASX Clear Operating Rules (PDF 422KB)
• Appendix 87 – Customer Agreement between BBYL and ADM, 15 May 2014 (PDF 10MB – refer to zip file)
• Appendix 88 – Letter from ABN AMRO to BBYL, 18 March 2014 (PDF 3.14MB)
• Appendix 89 – Amendment Deed Standard Client Agreement BBYL and ABN AMRO (PDF 45MB – refer to zip file)
• Appendix 90 – ABN AMRO Clearing Services Agreement 7 March 2014 (PDF 3.14MB)
• Appendix 91 – Electronic Market Access Agreement ABN AMRO and BBYL (PDF 2.7MB)
• Appendix 92 – BBYL's Application to CMC Markets 5 December 2014 (PDF 192KB)
• Appendix 93 – Client Service Agreement Halifax and BBYL 31 March 15 (PDF 12.2MB – refer to zip file)
• Appendix 94 – SCMA ISDA Master Agreement (PDF 3.3MB – refer to zip file) 
• Appendix 95 – Email from IB to Ashurst (PDF 1.1MB)
• Appendix 96 – StG CMA Application for Individuals & Personal Trusts Form (PDF 1.1MB)
• Appendix 97 – Letter from Ashurst to Mills Oakley, 23 November 2015 (PDF 1.1MB) 
• Appendix 98 – IB Account F1145587 agreements (PDF 1.1MB)
• Appendix 99 – IB Account I242781 agreements (PDF 1.1MB)
• Appendix 100 – IB Account I322352 agreements (PDF 3MB)
• Appendix 101 – Letter from ASX to Liquidators, 5 June 2015 (PDF 1.4MB)
• Appendix 102 – Letter from ASX to Liquidators, 9 June 2015 (PDF 1.4MB)
• Appendix 103 – ASX Notice: BBYL ASX Market Participation Susp 18 May 2015 (PDF 1.4MB) 
• Appendix 104 – ASX Notice: Close Out of Equity Market Transaction 19 May 15 (PDF 1.4MB)
• Appendix 105  – ASX Notice: Completion of Trans of Deriv Position 20 May 2015 (PDF 1.4MB)
• Appendix 106-ASX Notice: ASX Detail of Cash Mkt and Deriv Close Out 5 June 2015 (PDF 1.4MB)
• Appendix 107 – Letter from Ashurst to ABN AMRO, 5 August 2015 (PDF 1.4MB)
• Appendix 108 – Email from ABN AMRO to Ashurst, 13 August 2015 (PDF 1.4MB)
• Appendix 109 – Email from K&L Gates to ABN AMRO, 18 September 2015 (PDF 1.4MB)
• Appendix 110 – Email from ABN AMRO to Ashurst, 17 December 2015 (PDF 1.4MB)
• Appendix 111 – Letter from Ashurst to ADM, 5 August 2015 (PDF 1.4MB)
• Appendix 112 – Email from ADM to Ashurst, 6 August 2015 (attachment 1) (PDF 883KB)
• Appendix 112 – Email from ADM to Ashurst, 6 August 2015 (attachment 2) (PDF 883KB)
• Appendix 112 – Email from ADM to Ashurst, 6 August 2015 (attachment 3) (PDF 883KB)
• Appendix 112 – Email from ADM to Ashurst, 6 August 2015 (attachment 4) (PDF 883KB)
• Appendix 112 – Email from ADM to Ashurst, 6 August 2015 (PDF 883KB)
• Appendix 113 – Letter from Clayton Utz to Partners Legal, 20 November 2015 (PDF 2.8MB)
• Appendix 114 – Email from ADM to Ashurst, 7 December 2015 (attachment) (PDF 2.8MB)
• Appendix 114 – Email from ADM to Ashurst, 7 December 2015 (PDF 2.8MB)
• Appendix 115 – Letter from Mills Oakley to Ashurst, 6 November 2015 (PDF 2.8MB)
• Appendix 116 – Letter from Ashurst to Halifax, 26 August 2015 (PDF 2.8MB)
• Appendix 117 – Email from Halifax to Ashurst, 11 September 2015 (attachment 1) (PDF 2.8MB)
• Appendix 117 – Email from Halifax to Ashurst, 11 September 2015 (attachment 2) (PDF 2.8MB)
• Appendix 117 – Email from Halifax to Ashurst, 11 September 2015 (attachment 3) (PDF 2.8MB)
• Appendix 117 – Email from Halifax to Ashurst, 11 September 2015 2015(attachment 4) (PDF 2.8MB)
• Appendix 117 – Email from Halifax to Ashurst, 11 Sept 2015 (PDF 2.8MB)
• Appendix 118 – Letter from Ashurst to Saxo, 5 August 2015 (PDF 2.2MB) 
• Appendix 119 – Email 1: Use of Facilitation Template 16032015 (PDF 2.2MB)
• Appendix 119 – Email 2: RE Use of Facilitation Template 16032015 (PDF 2.2MB) 
• Appendix 119 – Email 3: RE Use of Facilitation Template 180315 (PDF 2.2MB)
• Appendix 119 – Email 4: RE Use of Facilitation Template 18032015 (PDF 2.2MB)
• Appendix 120 – Email from Saxo to Ashurst, 12 November 2015 (attachment) (PDF 2.2MB)
• Appendix 120 – Email from Saxo to Ashurst, 12 November 2015 (PDF 2.2MB)
• Appendix 121 – Email from Saxo to Ashurst, 9 December 2015 (PDF 2.2MB)
• Appendix 122 – Letter from Ashurst to IB, 6 August 2015 (PDF 2.2MB)
• Appendix 123 – Email from IB to Ashurst, 25 August 2015 (PDF 2.2MB)
• Appendix 124 – ASX File Note dated 13 January 2015 (PDF 2.2MB)
• Appendix 125 – Email from IB to Ashurst, 10 December 2015 (PDF 2.2MB)
• Appendix 126 – Other letters to counterparties (1 - APX) (PDF 2.2MB) 
• Appendix 126 – Other letters to counterparties (2 - Chi-X) (PDF 2.2MB)
• Appendix 126 – Other letters to counterparties (4 - Deutsche Bank) (PDF 2.2MB)
• Appendix 126 – Other letters to counterparties (5 - NewEdge) (PDF 2.2MB)
• Appendix 126 – Other letters to counterparties (6 - ANZ) (PDF 2.2MB) 
• Appendix 127 – Other responses from counterparties (1 - APX) (PDF 2.5MB)
• Appendix 127 – Other responses from counterparties (2 - Chi-X) (PDF 2.5MB) 
• Appendix 127 – Other responses from counterparties (4 - Deutsche Bank) (PDF 2.5MB)
• Appendix 127 – Other responses from counterparties (5 - ANZ) (PDF 2.5MB)
• Appendix 128 – Letter from Partners Legal to Ashurst, 5 November 2015 (PDF 326KB)
• Appendix 129 – Letter from Ashurst to Partners Legal, 23 November 2015 (PDF 2.3MB)
• Appendix 130 – Letter from Mills Oakley to Partners Legal 23 November 2015 (PDF 2.3MB)
• Appendix 131 – Letter Corrs Chambers Westgarth to Partners Legal 17 November 2015 (PDF 2.3MB)
• Appendix 132 – Task List: ETO Clearing 15 May 2015 (PDF 2.3MB)
• Appendix 133 – Daily Financial Statement 15 May 2015 (PDF 2.3MB)
• Appendix 134 – Daily Financial Statement 18 May 2015 (PDF 2.3MB)
• Appendix 135 – Worksheet Postings Batch Proof List 15 May 2015 (PDF 2.3MB)
• Appendix 136 – Worksheet Postings Batch Proof List 19 May 2015 (PDF 1.3MB)
• Appendix 137- GBST Shares Accounting with Shares Court Notes Processes (PDF 1.3MB)
• Appendix 138 – Equities and ETO Trust Movements Report, 18 May 2015 (PDF 1.3MB)