Hi all,
Back In 2020, I received the below email regarding my 40k shares being removed from my account at Interactive Brokers. However, the message includes the sentence:
"Please be aware that should the security listed above distribute funds or new shares to holders, the depository will reinstate the position and the distribution will be allocated to your account accordingly."
I thought I'd check to see if anyone has been through something similar, and if I can expect a distribution once this thing is settled? Thanks for any input!
You are receiving this notice as you hold positions in CRYSTALLEX INTL CORP, Symbol CRYFQ, a security for which transfer agent services have not been available for at least six years. Note that the removal or resignation of a transfer agent generally occurs when the issuer of the security becomes insolvent, the result of which may be a security that no longer trades and may be worthless.
DTC, the central depository, has provided brokers with the ability to cancel shares of this security. Interactive Brokers intends to cancel this position with DTC which will result in the removal of the securities as worthless from your account unless you can transfer the shares to a broker that would agree to hold the shares
Please be aware that should the security listed above distribute funds or new shares to holders, the depository will reinstate the position and the distribution will be allocated to your account accordingly.
The intended internal processing date will be on or shortly after Friday July 31, 2020. Should you continue to hold shares with IBKR on this date, they will be removed as worthless from your account.