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How do I make a claim as a shareholder? What is due process? after company go broke.
Dick Smith Shareholder How to Make a Claim?
nikey2k27 on 28/04/2016 - 21:51
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It stock market sometimes you win some they win it part of life. on positive note did not buy a house in Townsville in 2008 look how much they have come down? Or a place in Moranbah 1.5milion that luck to get 125,000 for it now.
I'd hold off on the self-congratulatory back slapping, at least with those real estate deals you'd still have something…
unless you bought the DSE shares on the back of a margin loan id say the DSE investor is in a much better position than someone who bought a $1m house in Moranbah in 2011 with a big mortgage (which they expected to pay off the back of sky-high mining salaries).
@xyron: Maybe OP bought the shares with mob money & is now being fitted for cement footwear…
Now, imaginary justifications aside, I'm not that familiar with new maths; but in the old days, getting at least something back was still better than losing your entire investment…just sayin'! ;)
Xyron means that the property deal would have negative equity, ie house is worth less than the mortgage. Whereas the dick smith shares are only zero (not negative).
In that case the something is indeed worse than losing your entire investment. You lose it all and still have a debt to repay
@MustacheFire: In the bizarre instance that you organised/managed the investment so poorly that you had no recoverable equity from the property, just be aware that this scenario is precisely why we have bankruptcy legislation. ;)
Thank you.
When it is broke, any residual value goes to (partly) repay creditors. The equity of shareholders is written off. If there was any wrongdoing then shareholders may be awarded compensation, but they would then just join the queue of creditors
Lolled.