SVS Securities - shut down?

Jools2001

jenwrendorset said:

" Thank you for your reply.  I can confirm that the ITI Capital “Custody Fee” which will be brought into effect from 23 October 2020, is based on the value of client portfolios (specifically 25 basis points per annum, or 0.25%).

Please see Page 5 of their Rate Card published on their website below for confirmation of this:

https://iticapital.com/assets/pdf/Rate-Card-october-2020.pdf

Therefore, if your BNN shares remain delisted and for the purposes of a valuation “worthless”, ITI should not charge you anything for continuing to hold them for you.

Yes had the same, just awaiting a reply back from Shiti
to see what options they are going to offer me
but as they dont answer any sort of communication, will probably have to go back via to LC
To get any sort of confirmation, especially if charges are going to be nil for the valueless shares

we will see what turns up! but wouldnt surprise me if Shiti refuse to hold our nil shares!
so dont know what happens then????

Sheris

RasputinB said:

Sheris said:

There was no member for the clients, I asked for a contact name or email to L&C in a email back in Febuary, I recivied a phone call the next day from a L&C mobile works number, did not want to put it in wrinting in a email to me, straight away I thought this is being covered up. Even told the person at L&C, I bet Andrew Poxon is already looking for his new Ferrari or Ranger Rover, no reply.     

Hi Sheris. Did you make notes of that conversation at the time? Do you have the day and time that you received the phone call? This could be very important if LC say that there was a member for clients, having admitted to you that there wasn't!

Have kept all details, it was in April and not Febuary, the latter was something else which at this moment I wish to keep to myself. 
In a email it just states JSAs, so I replied back in a email " you have not answered my question " all that was stated was the committee, so my question was not answered in a email and conversation. 
Why not answer a important question ? Who was acting on the behalf of the Clients ?

pafpcg

Jamesram said:

As regards the Creditors Committee, my recollection is that LC has stated that there were 4 people representing SVS client interests on the Committee, at least one being legally qualified and others having investor experience. I cannot recall the actual document but will check for it when I can.

LC published in October last year the list of members of the Creditors Committee with four individual names plus the FSCS.  LC said: "The Committee will represent the wider constituency of clients and creditors during the course of the Special Administration".

https://www.leonardcurtis.co.uk/wp-content/uploads/2019/10/Client-and-Creditor-Committee-Information-30.10.2019.pdf

Josl

My guess this one represented clients: 

Mr Salam Alaswad

https://www.expertwitness.co.uk/expert/5dc2a4c878ad1f4a048b4567
Email: salam.alaswad@fxandcfd.com

pafpcg

It is the responsibility of the Creditors Committee to monitor the progress of the administration on our behalf and to hold the Special Administrators to account.  I'm not aware of the committee issuing any report to SVS clients or of LC publishing any minutes of the committee.

Sheris

pafpcg said:

It is the responsibility of the Creditors Committee to monitor the progress of the administration on our behalf and to hold the Special Administrators to account.  I'm not aware of the committee issuing any report to SVS clients or of LC publishing any minutes of the committee.

Thats why I asked for further details. 

Nbs222

SSE dividends due on 18-sep-20 has not been credited either in Qort or Phoenix accounts yet.

manted

Nbs222 said:

SSE dividends due on 18-sep-20 has not been credited either in Qort or Phoenix accounts yet.

Yes, its the same for Dominos pizza. Those divis are still missing as well.

manted

Todays Update - 
Cash from the accounts has not yet reached the target ISAs. Dividends accrued with ITI need to be tallied and chased up.
Here's a summary - based on reading posts on this forum regularly - 

AJ Bell - 1 successful outcome posted
HL - Multiple people reported successful outcomes
iWeb - Multiple people reported successful outcomes
Interactive Brokers (USA) - 1 successful outcome posted. Basically as Phoenix is their platform, transfer is simpler.
Interactive Investors  - 1 Partially successful outcome ?
HSBC - 1 partially successful outcome.
IG - 1 partially successful outcome posted.
Barclays - 1 successful outcome posted (settle date 25th) ?

Equiniti - One member posted that Chris had informed him about valuations being sent this week

Jarvis X-o - No success yet

Any others that I maybe missing ?

rnf11

As regards the composition of the Creditors Committee, set up following the initial October 2019 meeting, I recall a Share Soc commentary at the time expressing satisfaction with the composition of the said committee. I cannot find it now, but I think it must have been in one of the Share Soc newsletters around that time.