SVS bankruptcy process! The court passed the "distribution plan", ISA claims that the client completed the transfer around June 8

Source: FinanceFeeds 2020-05-15

On May 7, Leonard Curtis, the joint SVS bankruptcy administrator, stated that the court had passed its "distribution plan", which meant that all relevant accounts were eligible for transfer.

In addition, the bankruptcy administrator issued a notice for personal savings account (ISA) customers.

The notice stated that the relevant ISA account will be transferred to the designated broker around June 8, 2020, and the account status will be retained. The name and address of the designated broker will be announced around June 1, 2020.

ISA account claim customers have the right to:

1) Contact the SVS customer service team to transfer their ISA account back to SVS. However, the bankruptcy administrator does not advise clients to do so, as this will further delay the return of their assets and funds.

2) Transfer its ISA account to another ISA manager of your choice. Customers can apply to the ISA manager of their choice to transfer their ISA account from the designated broker, and the account status will be retained.

In addition, the bankruptcy administrator stated that it will publish the latest client assets and funds claims statement as soon as possible.

After completing the ISA account transfer, SVS will cancel its ISA administrator license as soon as possible.

SVS

Distribution Plan

bankruptcy process

SVS bankruptcy process! The court passed the "distribution plan", ISA claims that the client completed the transfer around June 8

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