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Solicitor liquidation & lost share certificates

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  • Solicitor liquidation & lost share certificates

    I had share certificates which were held in safekeeping with my solicitor John Poyser Solicitors, 5a High Lane, Chorlton, Manchester, M21 9DJ. I recently noticed their office was closed and online research showed that Poyser had wound up due to irregularities by one of its solicitors.
    I contacted the Solicitors Regulatory Authority who replied saying "the practice had closed down (!) and I should contact John Poyser via a link which they gave me.
    This link was for Poyser's website which no longer existed.
    Another enquiry resulted in the SRA giving me details of Immisol Solicitors who had taken on some of Poyser's files but mine was not among them.
    Immisol Solicitors contacted the liquidator who also said they do not have my file.

    I contacted the SRA several times who repeatedly gave the same information as previous with the link to Poyser's website.

    After a final strong but politely worded email to the SRA I was advised that they would look into the matter further but could not guarantee I would hear from them, which I haven't for about four months now.

    I would obviously like to recover the share certificates as they are valuable documents and I am consolidating my finances and intend to sell most of the shares.

    Has anyone any thoughts of whom I can approach in an effort to recover the share certificates or to make a complaint against the SRA?

    Tags: None

  • #2
    Looking at it another way, might the company in question be able to issue replacement certificates? It may require an indemnity in case the originals turn up.
    Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

    Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf

    Comment


    • #3
      I used to work in insurance and there was a little known specialist policy called something like a "Lost Certificate Indemnity". I'm a bit rusty on the details but generally in a case like this the company would issue a duplicate share certificate but before doing so would take out a Lost Certificate Indemnity Policy to protect themselves in case someone else turned up later with the original certificate. The company would require you to pay the premium for the policy. The premium was a 'one off', not annual.

      In 'normal circumstances' you would the require the solicitor who had lost the share certificate to reimburse you the cost of the premium for the Lost Certificate Indemnity Policy but that might be problematic in this case because of their liquidation.
      Last edited by PallasAthena; 27th November 2023, 18:44:PM.
      All opinions expressed are based on my personal experience. I am not a lawyer and do not hold any legal qualifications.

      Comment


      • #4
        I will contact ComputerShare and Equiniti and ask advice.
        will post my findings here when done.
        Thanks!

        Comment


        • #5
          I have also asked the SRA if John Poyser Solicitors had indemnity insurance (inc run off cover), if so, with whom.

          Comment

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