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Galway Resources Ltd V.GWY



TSXV:GWY - Post by User

Comment by rick1966on Jan 02, 2013 7:15am
196 Views
Post# 20787708

RE: RE: RE: RE: TDW

RE: RE: RE: RE: TDW

I find myself perplexed as well.  I held Galway within two different brokerage accounts.  I received my cash from Fidelity account  in USA  with no shares of spincos yet and have received nothing from (my soon to be ex broker, USA).  As my tax planning was dependent on this transaction being taxed in 2012 vs 2013 I am quite annoyed.  I would have sold out pre trading halt had it seemed likely that the paperwork would not be completed in 2012.  Hearing on Dec 31 that my broker's depository agent has not received the cash leads me to wonder as to whether they had the shares on deposit or if something strange was going on? I do not have margin on my account making it, in my opinion, illegal for my shares to have been lent away.  It is kind of hard to fathom that they were unable to make a simple deposit of shares in a timely manner to the company. I am wondering if this strange inefficiency warrants the attention of  the SEC and perhaps the public accounting firms responsible for auditing my broker and its depository agent? Any suggestions? On the other hand has anyone heard the problem was with the agents acting for Galway?  I can understand the spinoff companies taking more time but the cash payment portion of the transaction should have been completed before year end.  Galway shares were halted the morning of Dec 21st post the arrangement having been completed.

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