SIPC Initiates the Liquidation of Global Arena Capital Corp.

18 Feb, 2016, 16:34 ET from Securities Investor Protection Corporation

WASHINGTON, Feb. 18, 2016 /PRNewswire/ -- On January 28, 2016, the Securities Investor Protection Corporation (SIPC) filed an application seeking an order placing Global Arena Capital Corp. (Global Arena), a brokerage firm located in New York City, in liquidation under the Securities Investor Protection Act (SIPA).  Today, the order of the United States District Court for the Southern District of New York, Judge Robert Sweet presiding, was docketed, placing Global Arena in liquidation and  appointing SIPC as trustee.  Global Arena ceased doing business in 2015, but some customers of the firm have not received the assets in their accounts.  Under SIPA, the case will be removed to the United States Bankruptcy Court for the Southern District of New York.

Claim forms will be sent to customers and creditors of the firm as soon as mailing lists can be compiled and claim forms printed. SIPC received information from the Financial Industry Regulatory Authority (FINRA) that prompted the application.

Information on filing claims and related deadlines will be posted on www.sipc.org.

ABOUT SIPC

The Securities Investor Protection Corporation (http://www.sipc.org) is the U.S. investor's first line of defense in the event of the failure of a brokerage firm owing customers cash and securities that are missing from customer accounts. 

Media Contact:
Kristen McCaughan
kmccaughan@mcginnandcompany.com 
202-276-4961

SOURCE Securities Investor Protection Corporation