Should you have faced the scenario of finding evidence of an asset which is not located in your legal jurisdiction in the administration of an estate, you will know that there can often be complications involved in dealing with that asset. Even those who have met this before are often tempted to ‘park’ the offshore asset whilst dealing with more …
Lost Share Certificates – Countersignatures.
Have you lost a share certificate? If the paper share certificate is lost, then usually the share registrars (being frequently Computershare or Wells Fargo for USA shares) will ask for an Indemnity Bond which usually costs about 3% of the current value of the shareholding. In the case of U.K. shareholdings, a countersignature will be asked for and again this …
Assorted Companies
Hewlett Packard share split in November 2015 divided into Hewlett Packard Inc and Hewlett Packard Enterprise Inc and shareholders received an equal number of shares in Hewlett Packard Enterprise Inc. Verizon / Vodafone – the closure of the Verizon Nominee Account at Computershare, Bristol has caused all former Verizon shareholders to have their shares moved to Computershare …
How to deal with ARRIS shares following the Pace Plc Takeover
How to transfer new ARRIS shares into a DTC Following the takeover of Pace Plc by ARRIS International early this year, the resulting new shares either have to be held in certificated form (which is not recommended) or the new ARRIS shares must be transferred to a DTC account. Not all stockbroking firms have the DTC facilities, and as …
Selling US Shares
Selling US Shares can be tricky In order to sell any US shares owned by a deceased, the executors of the Will first have to have the shares transferred into their name or the name of the beneficiaries and have received the new share certificate or Direct Registration Statement. It is not like in the UK where you just register …
Covidien / Mallinckrodt / Medtronic
Medtronic Inc. and Covidien plc are now combined under Medtronic plc. The Tyco Group story gets more full of twists and turns, as on the 28th June 2013 Mallinckrodt was spun out of Covidien Plc, and 1 share was issued in Mallinckrodt for each 8 shares in Covidien held by shareholders of Covidien on the 19th June 2013. Covidien has …
Recovering Dividends in Australia
Recovering Dividends in Australia When an estate has been inactive for some time, uncollected dividends must be paid to the Australian Securities & Investment Commission. Prior to 1991, uncollected monies were dealt with at the State Level instead of the central Commission. So if you have to claim back dividends due before 1991, you have to trace the uncollected funds …
Selling Shares in Hong Kong
Looking to selling shares in Hong Kong? Because of anti-money laundering regulations, it is becoming more difficult once the shares have been transferred into the name of the Executors, to sell them in Hong Kong. We have therefore arranged for our regular UK stockbrokers to sell any Hong Kong shares on behalf of clients, and hope this new arrangement will …
Power of Attorney
Power of Attorney Case in Hong Kong Recently, we had a case where an Executor was acting under a standard general UK Power of Attorney and the Hong Kong Probate Registry took the view that it was ineffective to cover the reseal and transfer of the shares in Hong Kong. A new Power of Attorney had to be executed. In …
Warning – “Pump and Dump”
Recently we received a large pile of share certificates in different companies from a client for valuation and sale, the client having been told that the shares were worth a considerable sum of money. On investigation by us we found that most of the shares were “penny stocks” and were quoted on extremely small stock exchanges in the USA (where …