SVS Securities - shut down?

My2penneth

I had a quick look at my iShares holdings (see above) which contain a mix of underlying currencies.
(IAPD = US dollar, IDVY = euro, IUKD = Sterling). The values quoted on the LC emails for these shares are "about right".

Eastneuk

Does anyone plan to put themselves forward to sit on the Creditors’ Committee? Will LC be recommending anyone?

Thanks.

masonic

Eastneuk wrote: »

Does anyone plan to put themselves forward to sit on the Creditors’ Committee? Will LC be recommending anyone?

The Creditors' Committee is supposed to represent investor and creditor interests and hold LC to account, so it would not be appropriate for LC to make any recommendations. Though the most important duty of the Creditors' Committee is the approval of the admininistrators' fees.

LC will collect the names of those wishing to serve on the committee and (in the likely event more than 5 people come forward) will put the decision out to the general body of creditors and investors by ballot, likely weighted by the size of each individual's investment/creditor claim.

It would probably be helpful to those active in this thread if someone here got on the committee. (I'm a former SVS investor so won't be putting myself forward)

Neil72

Hi

Is anyone else still waiting for their confirmation statement. I am missing my non isa holdings and my wife hasn't received anything. Getting concerned now as I thought we were supposed to hear by the 30th

desertorchid123

Still waiting for my ISA statement.

Eastneuk

I would be happy to put myself forward for the Creditors Committee.. I had roughly £550,000 split between 2 ISA’s and a personal account. I worked in the financial sector for many years and have now retired.

olderbutnowiser

Eastneuk wrote: »

I would be happy to put myself forward for the Creditors Committee.. I had roughly £550,000 split between 2 ISA’s and a personal account. I worked in the financial sector for many years and have now retired.

You sound ideal for the job Eastneuk. It would be good to know we had someone on the committee who had a good deal of skin in the game and who would be pushing for the transfer of our portfolios asap. I live 200 miles from London which makes it rather inconvenient to attend.

ascension92

Eastneuk wrote: »

I would be happy to put myself forward for the Creditors Committee.. I had roughly £550,000 split between 2 ISA’s and a personal account. I worked in the financial sector for many years and have now retired.

Thank you Eastneuk I would be more than happy for someone with your background to be on the committee, but I cannot see how we can vote for you!

masonic

ascension92 wrote: »

Thank you Eastneuk I would be more than happy for someone with your background to be on the committee, but I cannot see how we can vote for you!

If more than 5 people put themselves forward for the committee, then the usual process is for a ballot to be arranged. It is likely each candidate will be asked for a short bio indicating why they wish to serve on the committee and this would be circulated among investors and creditors. It won't be difficult for Eastneuk to make himself known to voters here should he wish to do so.

shiznit76

Get my vote Eastneuk