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What happens if Odin becomes insolvent?
What happens if Odin becomes insolvent?
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Written by Odin Team
Updated over a week ago

Firstly, there is no contagion of the assets an Odin Bare Trust or other entity we administer holds for you, since Join Odin Limited is the administrator of the assets, but not the beneficiary. Essentially, this means that Join Odin Limited's creditors have no recourse to assets it holds on behalf of investors.

In the unlikely event that platform ceases to operate, there is a three part plan:

  1. The most likely scenario is that Odin would be acquired by a competitor or similar business, and as part of that arrangement the new owner would take over management. In this scenario, depending on terms set by the new owner, you would be free to “opt out” and transfer to your own nominee as per (2)

  2. You would be free to transfer your assets to another nominee entity of your choosing at minimal cost, or, if you are a subscriber and have set up your own entity already rather than running your investments via Odin Investments Limited, take over the administration of that entity from Odin. Odin would ensure that all necessary documentation and information was passed on to you in order for you to carry out this function appropriately.

  3. Odin has a plan C, which is an MOU with an existing fund management firm in the UK called Thompson Taraz, who have been trading for over 20 years. They would take over the management of the assets, for an agreed fee. Alternatively, other competitor platforms could submit proposals for business.

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