Didn't expect the asset sale too, none of my research indicated they had stuff to sell. WSJ says the whole thing is valued at $200M, what prevents them from selling it all and repaying most of the loan? Rather be out and reasses than to be studborn
Director at FXCM gets his own personal margin call and sells $15M (pre-crash) worth of stock for $0.15 on the leveraged $1. Ouch.
" The reporting person had pledged 1,200,000 units of FXCM Holdings, LLC with a broker as collateral for a margin loan. Due to events in the currency markets on January 15, 2015, the broker foreclosed on such units by exercising its right under the pledge agreement to cause the reporting person to exchange such units into shares of Class A Common Stock. A portion of such shares were sold to satisfy the reporting person's obligations in connection with the margin loan."
