Wednesday, 22 March 2017
Last updated 4 min ago
Jun 6 2011 | 12:15pm ET
The end of the road appears to have come for currencies hedge fund Celeritas Markets.
The London-based high-frequency trading specialist has approached The MacDonald Partnership about entering voluntary liquidation, Dow Jones Newswires reports. Celeritas was launched in 2008 with £3.5 million by Royal Bank of Scotland veteran Martin Spurr, and reportedly stopped paying employees late last year or early this year.
"I have two pending invoices, for around £21,800," one former employee, Nicolas Bischoff, told DJ.
MacDonald's Neil Chesterton said a meeting of creditors has been called for June 13.
"Celeritas Markets LLP has engaged me to assist placing the LLP into creditors' voluntary liquidation, but I have not yet been appointed as liquidator," he told DJ.
According to DJ, Celeritas tried—and failed—to win a lifeline from a hedge fund shortly before it stopped paying employees.