Jump to content
  • 0

Bankruptcy


Stingray77

Question

Hi support 

Can you tell me what happens if a share ceases to trade, because the company has been wound down? I.e if I had a position of £200 pp in a 2p share would that be a £400 loss or would my position just cease to exist and I'm liable from what ever positive or negative balance I gave on that share?

Link to comment

2 answers to this question

Recommended Posts

  • 0
1 hour ago, Stingray77 said:

Hi support 

Can you tell me what happens if a share ceases to trade, because the company has been wound down? I.e if I had a position of £200 pp in a 2p share would that be a £400 loss or would my position just cease to exist and I'm liable from what ever positive or negative balance I gave on that share?

Hi @Stingray77

Thanks for the question

We will close your position at a price of zero, meaning that you would realise the GBP400 loss. We will then typically open a proceeds line which is untradeable and brings no value to your account. If the company is ultimately declared worthless and there is no return to shareholders, then the proceeds line will be closed at a price of zero. Hope this helps

Regards

Anda

  • Thanks 1
Link to comment
  • 0

When a share ceases to trade because the company has wound down, your position doesn't just vanish into thin air. You'll still technically hold those shares, but here's the kicker: their value can take a nosedive, often plummeting close to zero. So yeah, you'd be facing a substantial loss on your initial £200 investment per share. Now, the real deal here is understanding the nitty-gritty of the company's insolvency. It's not just a one-size-fits-all scenario. Factors like the company's assets, debts, and whether there's anything left for shareholders play a big role in what you might recover. To get a clearer picture and explore your options, I recommend reaching out to insolvency and restructuring practitioners. These folks are like financial detectives. They can dig deep into the company's financial situation and provide you with expert guidance based on the specifics.

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • In the decentralized future, collaboration is key. Builders shaping the next wave of gaming, entertainment, finance, and community spaces require blockchain infrastructure that's scalable, cost-effective, and adaptable. They seek an ecosystem where creativity thrives, and support is abundant. This is where SAGA comes in. With its recent listing on Bitget exchange, its native token is gaining significant traction, signaling growing interest in SAGA's mission to empower Web3 builders.
    • The cryptocurrency industry has undergone substantial growth in recent years, largely fueled by centralized exchanges. However, with this growth comes a responsibility to adhere to regulatory standards. Recent revelations have cast a shadow over BingX, a prominent cryptocurrency exchange, as it has been found to be facilitating transactions for Iranian users in defiance of US sanctions. This blatant disregard for regulatory prohibitions, which are in place to combat terrorist financing and illicit arms procurement through crypto channels, raises serious ethical questions. The decision by BingX to engage with Iranian clients despite the associated risks and legal constraints has sparked concerns about the judgement of its management team. Of particular concern is the lax enforcement of Know Your Customer (KYC) verification, allowing users to withdraw significant sums without proper identity authentication. Inevitably, regulatory bodies such as the DOJ and SEC will seek explanations from BingX regarding these breaches. The repercussions of such inquiries are likely to be severe, with users already expressing alarm and initiating mass withdrawals. Beyond regulatory scrutiny, BingX's actions threaten its reputation and long-term viability. By flouting US sanctions and disregarding regulatory compliance, the exchange risks damaging its integrity and credibility. As BingX navigates this ethical quagmire, the extent of the fallout remains uncertain. What are your thoughts on the potential implications of these breaches for the exchange? Source: https://cointelegraph.com/news/bingx-exchange-iran-sanctions-evasion      
    • Current Bitcoin Price USD $67,710.6 GBP £54,355.5 Euro €63,529.5  
×
×
  • Create New...
us