I've had direct correspondence with the administrator and indeed ASIC. Basically, the administrator is proposing that Halifax is liquidated. I am of the opinion that the TWS accounts should not have frozen, as Halifax never controlled the buying, selling of shares rather their relationship with IB was a brokerage one. Halifax does not own IB platform and IB retain rights over all data- what this means is that they control the platform (not Halifax). That's what I'm tying to argue and that our funds would remain intact.
It's my understanding that once liquidator is appointed:
1) it will take 6-12 months depending on court adjudication to get funds released
2) we may loose up to 20 cents in the dollar
3) We need to successfully argue that we are a client of interactive brokers and have a direct relationship from habitual use of platform directly with IB ( and not through Halifax)
4) worse case scenario loose 15 to 20%
I would like to speak to other fellow investors as I'm extremely worried about the prospect of segregated accounts being brought into this mess. I have a six figure sum invested
