Insolvency Notices

Company

REYKER SECURITIES PLC

Notice Type
Other Corporate Insolvency Notices
Publication date
10/03/2020
Edition
The London Gazette
Notice ID
3517483
Notice Code
2408

In the IN THE HIGH COURT OF JUSTICE, BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES, COMPANY AND INSOLVENCY LIST (CHD)

Court Number: CR-2019-006671

REYKER SECURITIES PLC

01747595

The Investment Bank Special Administration Regulations 2011 (“Regulations”)

The Investment Bank Special Administration (England and Wales) Rules 2011 (“Rules”)

NOTICE OF CLIENT CUSTODY ASSETS (“CUSTODY ASSETS”) BAR DATE IN ACCORDANCE WITH REGULATION 11 OF THE REGULATIONS AND RULE 138 OF THE RULES

Mark Christopher Ford, Adam Henry Stephens and Henry Anthony Shinners of Smith & Williamson LLP, 25 Moorgate, London, EC2R 6AY were appointed as Joint Special Administrators (“JSAs”) of the Company on 8 October 2019 pursuant to an application made by Adrian Barnwell and Katie Ellenor McGinley, directors of the Company, under Regulation 5 of the Regulations.

Notice is hereby given in accordance with Regulation 11 of the Regulations and Rule 138 of the Rules, as follows: 1. Under Regulation 11 of the Regulations, the JSAs consider it necessary, in order to return Custody Assets, to set a bar date of 17.00 hours (GMT) on 7 April 2020 (“the Custody Assets Bar Date”), for the submission of: i. claims to the beneficial ownership, or other form of ownership, of the Custody Assets (a “Custody Assets Claim”); or ii. claims of persons in relation to a security interest asserted over, or other entitlement to, those Custody Assets (a “Security Interest Claim”), as set out in Regulation 11(1) (a) and (b), respectively, of the Regulations. Contingent or disputed claims are included within the Claims described above. 2. The Custody Asset Bar Date represents the deadline by which: (i) clients are required to submit their claim to register their Custody Assets Claim(s) (or otherwise submit their Custody Asset Claim(s)) for Custody Assets and (ii) those parties asserting a Security Interest Claim are required to submit details of their Claim, to the JSAs. 3. Notices were issued to all known clients on 6 March 2020, enclosing details of how to register their Custody Assets Claim as outlined above. 4. The purpose of the Custody Assets Bar Date is to allow the JSAs to commence the process for transferring Custody Assets in accordance with the terms of a distribution plan. This is most likely to be done by way of a single transfer to the proposed purchaser of the Company’s business and assets. 5. This notice relates only to Custody Assets and not to Client Monies held by the Company pursuant to the Financial Conduct Authority’s (“FCA”) client money rules. A separate notice will be issued in relation to Client Money. 6. This notice will be: i. made available to all clients of Reyker, claiming beneficial ownership or other form of ownership of the Custody Assets that the JSA’s are aware of, and have a means of contacting; ii. sent to all parties whom the JSAs believe have a right to assert a security interest over, or other entitlement to, the Custody Assets and that the JSAs have a means of contacting; iii. placed into the London Gazette; iv. advertised in the Times and the Times International; v. be sent to the FCA; vi. sent to the Financial Services Compensation Scheme (“FSCS”); and vii. placed on the dedicated Reyker webpage of the Smith & Williamson LLP website. 7. If you believe that you have a Custody Assets Claim, please follow the instructions sent to all known Clients (insofar as possible) in our letter dated 6 March 2020 and associated guidance available to view at https://smithandwilliamson.com/en/services/restructuring-and-recovery-services/reyker-securities-plc/ 8. A person submitting a Security Interest Claim must do so in writing to the JSAs at Reyker Securities plc, c/o Smith & Williamson LLP, 25 Moorgate, London, EC2R 6AY and the Security Interest Claim must comply with the requirements of Rule 140 of the Rules. 9. Please note, in accordance with Regulation 11(5) and Rule 147, if you fail to submit your Custody Assets Claim by the Custody Assets Bar Date, and if Reyker has completed the sale to the purchaser, your only remedy will be to submit a proof of debt in writing to the JSAs, in accordance with Rule 152, for the value of the Custody Assets not returned to you. 10. Following the Custody Assets Bar Date, those claimants who have had their respective assets transferred to the purchaser pursuant to the distribution plan (with the sanction of the Court), will have acquired good title to those Custody Assets and there shall be no disruption to those Custody Assets that have already been returned. 11. Unless otherwise sanctioned by the Court, every claimant who submits a Custody Assets Claim or a Security Interest Claim must bear the cost of making its own claim in accordance with Rule 141 of the Rules, including but not limited to, providing additional documentation or supporting evidence. 12. Receipt of this notice does not guarantee that you have a Custody Assets Claim or a Security Interest Claim or are otherwise entitled to receive a distribution of Custody Assets. 13. Any general queries in relation to this notice should be directed to 0800 048 9512 or clientservices@reyker.com. For specific advice relating to the scope and effects of the notice, you should consult your own legal or professional adviser.

Mark Ford, Joint Special Administrator, For on behalf of the Company

6 March 2020

Ag QG120878