Argentex Leaves Harborne’s IFX Waiting Over £34 Million Loans

Argentex Group Plc’s volatile portfolio of currency derivatives is complicating efforts to wind up the firm and pay back creditors, including a company owned by mogul Christopher Harborne.

The London-based brokerage, which collapsed in July, owes more than £34 million ($46.5 million) to Harborne’s wholly-owned FX payments company IFX (UK) Ltd., according to corporate filings. IFX is first in line for repayment after lending money to Argentex as part of a failed rescue bid.