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CO-Operative Membership
pepsi662400
Posts: 95 Forumite
Hi
I have a problem what I hope someone maybe able to help me on.
I am considering applying for Co-operative Membership where you become a shareholder in the company. The more you buy in the shores, the more points you get and this in turn equals to the amount of shares you have. However I went bankrupt in July and looking at the terms and conditions of membership, wehn someone becomes bankrupt, the shares go to the OR.
However as this is AFTER the bankruptcy order and the OR is my trustee in bankruptcy, could I get the benefits of membership or would these revert to the OR. After -all the shares equal to a share in the co-op's profits.
Any help would be a great benefit.
I have a problem what I hope someone maybe able to help me on.
I am considering applying for Co-operative Membership where you become a shareholder in the company. The more you buy in the shores, the more points you get and this in turn equals to the amount of shares you have. However I went bankrupt in July and looking at the terms and conditions of membership, wehn someone becomes bankrupt, the shares go to the OR.
However as this is AFTER the bankruptcy order and the OR is my trustee in bankruptcy, could I get the benefits of membership or would these revert to the OR. After -all the shares equal to a share in the co-op's profits.
Any help would be a great benefit.
0
Comments
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You don't get shares, you get a share of their profit.
I joined during my BR, but I wouldn't worry too much if they do send the money to the OR, all I got for the last year was £1.50, that was for 2 bank accounts, house insurance and using the card for shopping points :rolleyes:Accept your past without regret, handle your present with confidence and face your future without fear0 -
pepsi662400 wrote: »Hi
I am considering applying for Co-operative Membership where you become a shareholder in the company. The more you buy in the shores, the more points you get and this in turn equals to the amount of shares you have.
It's a co-operative organisation, a mutual - it's not like having shares in a company. Like with building societies, your voting rights are not influenced by how much money you have or spend with them. The points you gain only influence how much of the share of the profits you receive, the dividend. Really it is only a refund on what you have spent with them.0 -
peachyprice wrote: »You don't get shares, you get a share of their profit.
I joined during my BR, but I wouldn't worry too much if they do send the money to the OR, all I got for the last year was £1.50, that was for 2 bank accounts, house insurance and using the card for shopping points :rolleyes:
OK, thanks for the advice! I did not think it would be that much and I can't see the OR stopping discharge for £1.50!! Thank you again. :T0
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