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[funchalman] 20/5/2009 12:29

its sod law, my email to capita yesterday received an out of office auto response,so still waiting on a response from them.

[mctmct] 20/5/2009 10:54

E*Trade paid yesterday and I had to fill in the same forms that I sent Barclays, so any delay now would seem to be Barclays' incompetence.

There must be something we can do to get our money before September/October. How do we know that they haven't got it already and are just sitting on it?. Does anyone know a no win no fee solicitor who might be willing to mount a class action?

[gerdmuller] 19/5/2009 11:33

We just have to be grateful for the internet. Before we would be totally in the dark but at least now we know what is going on to a certain extent. They are holding a large sum of my money and I want some action and if we all constantly make them aware we are not going away then it may be easier for them to take some action.

Investing is easy compared to this. Whenever you have to deal with someone in an office somewhere life always gets complicated.

[funchalman] 19/5/2009 11:25

complete farce it is,but think we have got the wrong end of the stick as regards the israeli tax authorities.these tax forms are a pain and will no doubt cause some delay( and in my view completely pointless in preventing tax avoidance),but at the end of the day this inordinate delay in receiving the money is down to the brokers.am starting to think the brokers just want to complete the one letter of instruction for the whole of their nominee account and send it off with the individual tax forms,instead of completing a letter of instruction for each holder and send that off with that indivuals tax form.

have emailed capita again to try and ascertain the veracity of some of these excuses coming from various brokers

[gerdmuller] 19/5/2009 11:17

A couple of weeks ago I asked someone called Margaret at Barclays to find out if my forms had arrived (as I was going back to Spain shortly and wanted everything sorted out before I left). She phoned back and said my forms had arrived. I asked her to find out when I would be paid and she phoned back again leaving a message to call. I called and a guy dealt with the call and said the forms were all going to be posted the following day and payment would be about 3 weeks.

This will be 3 weeks this Friday I think.

I just hope they record these calls because I agree with you that firms like this cannot be trusted in these matters when things go wrong and they all close ranks.

Initially though I was given the wrong information in email so I still have that as evidence.

[mrwoo] 19/5/2009 11:03

GerdMuller - just wondering: did Barclays tell you in writing that they had your forms, or was this over the phone? If the latter, did you feel confident that the person you were speaking too had really checked your account history - or could it be that he/she was just saying that they had had lots of forms in and had already sent them off? Not meaning to be unnecessarily suspicious, but you were given the wrong information (over the phone?) before and I am a bit concerned that Barclays have twice failed to tell me in writing that they did (or didn't) get my forms. Also, I wonder why Barclays were even bothering to send some of the forms off, when they insist that there can be no money for anyone until all of the forms have been received?

FYI, the key extracts from my e-mail from Barclays are:

1. "Dmatek will not send us payment until they have received all the tax forms for our clients .... the deadline they have given to us is September"

2. "[I] confirm [your] payment cannot be credited until the payment is received from Dmatek"

So, if DTK won't pay out without all the forms, and if Barclays won't pay out until DTK pay, then the strictly logical (though crazy) conclusion would seem to be that there will be no pay out unless every single form is returned by September. Or, at least, that is the line which Barclays is taking and expects its clients to accept. FWIW, I have sought an assurance that Barclays is taking urgent action with the other parties concerned to resolve this ludicrous situation, but I have had no response as yet.

[alexbroadbent] 19/5/2009 10:19

FYI: after receiving the money last week from HSBC, they also sent me copies of the Israeli tax forms with a request that they be returned by 22nd May.

So I've no idea what HSBC are doing but I'm not going to draw the possible error to their attention.

[gerdmuller] 19/5/2009 09:44

I was told about 2 weeks ago that they had received my forms are were in the process of sending them off. I still have a complaint pending about how they gave me the wrong information initially that there was no need to fill in the forms.

I can only guess that HSBC must have paid out before they got the money but still what Barclays is doing is not acceptable.

I am still waiting for email confirmation from them of what you say. But if they are making us wait until September then I think we should all go to their regulator and complain about this.

These people all want our money but don't want to do anything for it. I think I will be telling them that once proceeds are eventually in my account then I will be looking to transfer accounts.

This has become a total fiasco. I used to have some sympathy for the Israeli government but I am losing it fast. If they want their companies quoted in London then they should abide by UK rules.

[mrwoo] 19/5/2009 09:25

Barclays have, of course, given me the same line about no money before September. I have said that I consider this unacceptable and have suggested that, given the exceptional and punitive conditions which are being applied, Barclays had a duty to warn investors of them in advance so that we could have sold in the market. As it is, I have an e-mail from Barclays which comes very close to asserting that, if all forms are not returned by all Barclays clients, I will simply not get any money.

Although I didn't ask for this, Barclays have chosen to turn my representation into a formal complaint. However, they have also chosen to ignore my two written requests for confirmation that they definitely DO hold my forms (and that these didn't go astray in the post). So I, and presumably others, have no way whatsoever of knowing whether we could unwittingly be responsible for any failure to distribute the funds even in September. Should have been an easy enough question to answer, so - given the pretty unimpressive attitude of most of our brokers to this episode - I can't help wondering whether Barclays could even have sent forms off without keeping a reliable record. Has anyone else extracted confirmation from Barclays that their own forms have definitely been received (and satisfactorily completed)?

[funchalman] 18/5/2009 17:51

a lot of theses brokers are proving pretty dismal over what is a simple transaction.i wonder if it has to do with the fact that they will not make anything out of this transaction,unless the proceeds are re-invested via the same broker.as per the email i posted on here from capita,the brokers only have two lots of forms to deal with,the letter of instruction (filled in by the brokers) and the israeli tax forms(filled in by the beneficial owner i.e you and me).having to wait for all the tax forms to be in before getting the money,is just plain rubbish.
if my money is not in by the end of this week i will be getting on to my broker and i shall want something pretty definite.

[godwin2] 18/5/2009 16:45

I have just spoken to Barclays about when the pay-out will take place. I was told that the only information they had was that they would not be receiving any money from the company until September. This is outrageous isn't it, but what power do we have?

[elmfield] 15/5/2009 18:08

Excellent, hope the rest of us get our money next week then,

[alexbroadbent] 15/5/2009 18:05

Yep, £2.15 for every share.

[elmfield] 15/5/2009 17:55

how strange is that, assume you got the full amount?

[alexbroadbent] 15/5/2009 17:51

Miracles do happen! After weeks on bombarding HSBC with requests for information, the money appeared in my account yesterday out of the blue.

I've had no correspondence from them and haven't had to complete any forms.

[geoffro] 15/5/2009 15:44

Spoke with selftrade this afternoon. They informed me that the money was with the uk registars having been transfered from Israel registars and they would be starting to distribute the money next week to those that have returned completed tax forms. Keeping my fingers crossed.

[tp6] 11/5/2009 23:36

With Hargreaves Lansdown, a note back from them today, says to expect funds to be paid out in the next 7 days.

[camiladasi] 11/5/2009 14:11

I e-mailed iDealing to see when I can expect the money from them. this was their reply:-

Dear Sir,

We can confirm receipt of the documents you supplied us. But we are unable to give you a time scale of when to expect the proceeds. As we are unsure ourselves at present

Regards

iDealing.com


So I guess I'm no clearer about getting the funds.

camlad

[treatmelike] 08/5/2009 13:47

I've had a word with Barclays and the forms recieved to date are being sent today.

[fullbreakfast] 08/5/2009 10:41

Based on Selftrade's usual MO: the forms will sit in someone's in-tray until there's a pile an inch thick, then for a further week for good luck, before being posted to Israel using Royal Mail's "economy surface" service (delivery by a drunken one-armed WW2 veteran in a rowing boat). Should reach Dmatek by mid June. Cheque will then be returned to Selftrade without a name or reference as Selftrade will not have provided any, and will sit in the Selftrade postroom for ten days while they try to work out who it's for. Eventually it will reach the right person, spend the mandatory week in their in-tray, and then be sent second class to the bank. Allowing a further week for clearing I reckon we'll see our money by early August!

[elmfield] 08/5/2009 10:23

that can not be the case, I have all forms in and will instruct my broker to chase it up.

[gerdmuller] 08/5/2009 10:08

mctmct, that is absolutely scandalous. We will have to try to do something about that. I will be back later.