Dear Sir/Madam,
WorldSpreads Limited (in special administration) third and final distribution to clients
On 11 November 2015 the Joint Special Administrators declared a third and final distribution to clients of 10.418 pence in the £ (rounded to 3 decimal places). This brings the total distribution to clients to 18.418 pence in the £.
Clients who have assigned their claim to the FSCS
Those clients who had an account balance less than £50,000 and have submitted a completed application form to the FSCS and received compensation, thereby assigning their claim, will not receive any further distribution from the Joint Special Administrators or the FSCS once they have been paid their agreed balance by the FSCS.
Those clients who had an account balance over £50,000 and have submitted a completed application form to the FSCS and received compensation, thereby assigning their claim, will receive any further distribution directly from the FSCS after the Joint Special Administrators have paid it to the FSCS.
Clients who have not assigned their claim to the FSCS
Clients who have agreed their balance with the Joint Special Administrators but not received any compensation from the FSCS as at 11 November 2015 have not assigned their claim to the FSCS. These clients will therefore receive their unpaid dividends directly from the Joint Special Administrators.
These clients continue to be entitled to make a claim to the FSCS for any further losses they are suffering and are advised to contact the FSCS directly in order to request an application form. The Joint Special Administrators will work alongside the FSCS to ensure those clients that subsequently receive FSCS compensation receive the remainder of their agreed account balance from the FSCS up to their limit of £50,000 per person.
If you are based in the UK and have not received a letter from the Joint Special Administrators by 30 November 2015, please contact the Joint Special Administrators at
[email protected]. If you are based overseas, please contact the Joint Special Administrators if you have not received a letter by 16 December 2015.
If you have any questions regarding the above please contact the Joint Special Administrators at
[email protected].
Kind Regards,
The Joint Special Administrators
for and on behalf of the Company
Samantha Rae Bewick and Jane Bronwen Moriarty were appointed as joint special administrators of WorldSpreads Limited on 18 March 2012. Following Jane Moriarty’s retirement from KPMG LLP, David John Standish was appointed joint special administrator by Order of the Court with effect from 1 October 2015.
The affairs, business and property of WorldSpreads Limited are being managed by the joint special administrators who contract as agents of WorldSpreads Limited without personal liability.
Samantha Rae Bewick is authorised to act as an insolvency practitioner by the Institute of Chartered Accountants in England and Wales. David John Standish is authorised to act as an insolvency practitioner by the Insolvency Practitioners Association.
WorldSpreads Limited is authorised and regulated by the Financial Conduct Authority. FCA reference number 230730. Registered in England No. 04898762. Registered Office: 15 Canada Square, London, E14 5GL.
We are bound by the Insolvency Code of Ethics.
This email has been sent by and on behalf of one or more of KPMG LLP, KPMG Audit plc, KPMG Resource Centre Private Limited or a company under the control of KPMG LLP, including KPMG United Kingdom plc and KPMG UK Limited (together, "KPMG").
This email, and any attachments, is confidential and may be privileged or otherwise protected from disclosure. It is intended solely for the stated addressee(s) and access to it by any other person is unauthorised. If you are not the intended recipient, you must not disclose, copy, circulate or in any other way use or rely on the information contained herein. If you have received this email in error, please inform us immediately and delete all copies of it.
Any communications made with KPMG may be monitored and a record may be kept of any communication.
Any opinion or advice contained herein is subject to the terms and conditions set out in your KPMG LLP client engagement letter.
A list of members of KPMG LLP is open for inspection at KPMG's registered office.
KPMG LLP (registered no. OC301540) is a limited liability partnership registered in England and Wales. Each of KPMG Audit plc (registered no. 03110745), KPMG United Kingdom plc (registered no. 03513178) and KPMG UK Limited (registered no. 03580549) are companies registered in England and Wales. Each entity's registered office is at 15 Canada Square, London, E14 5GL.
, I would make a loss if I sold them and it does not really give any info on what will happen if I reject, saying that the reject option is a default choice for anyone that does not respond to the action.
18p on the £
