SVS Securities - shut down?

Danie5

How did they send the letters - can't they Email the info?

Sailskipete

The LC website has been updated with information regarding the Bar Date and also has a sample of the letter that has been posted out. Bar date is 17.00hrs on 10th Jan.

snipkin

Note that there are FIVE new documents on the LC website - one of them is not immediately obvious ("CLIENT PORTAL GUIDANCE NOTES"). You need to click 'SEE MORE' to see this document (the remainder are in Chinese). The LC website is a total mess now regarding usability - it is not so easy to quickly see what's new. It was simpler and better before it was updated a few weeks ago.

pafpcg

Sailskipete wrote: »

The LC website has been updated with information regarding the Bar Date and also has a sample of the letter that has been posted out. Bar date is 17.00hrs on 10th Jan.

The portal website is now accessible, but only if you have your Key Code!
https://leonardcurtis.insolvencydata.co.uk

ascension92

Danie5 wrote: »

How did they send the letters - can't they Email the info?

Why would you want it by E mail? would you trust it? There are enough scams going around at the moment, I've had 2. Also trying to clear down my open trade and get clear confirmation I'm not being scammed before I pay thousands more for a trade I thought I'd already bought has been unreal. I only hope they are not sending the account numbers and key code out in the same envelope!

juliamarsh

Does anybody know if once we gain access to the portal we will be able to view our contract notes as we could before? My 4 children all had the same number of shares in a particular company and I am concerned because when the letters of reconciliation arrived from Leonard Curtis one of the children was stated as owning less than the number that was originally transferred in to SVS. I do not recall him ever selling any but if we haven't downloaded the contract notes, without having access to view the contract notes on the account how can we ascertain whether or not he did and will a statement from the previous broker be sufficient proof of the number of shares that he owns?

altaf930

if we could not do transactions for so long, can it be accounted to loss and can we claim that



are the shares going to be tranferred to broker or the amount states on portal ?

masonic

altaf930 wrote: »

if we could not do transactions for so long, can it be accounted to loss and can we claim that

No the FSCS will not reimburse you for investment losses if that's what you are asking.

are the shares going to be tranferred to broker or the amount states on portal ?

If the accounts are transferred to another broker, then the shares will be re-registered. If not, then the shares will be sold and the proceeds paid to you. The current price on the portal is just for information and can't be taken as the value you'll end up with.

juliamarsh

Will it be possible to claim interest from the FSCS on dividends that have been paid but not accessible to us?

masonic

juliamarsh wrote: »

Will it be possible to claim interest from the FSCS on dividends that have been paid but not accessible to us?

No, you are only able to claim for assets that are used to fund the administration. It is likely no claim will need to be made at all, and LC will fund the administration using FSCS money claimed on behalf of clients.

Also, SVS was not contractually obliged to pay interest on dividends, and as far as I'm aware never paid interest on credit balances.