What happens if Odin becomes insolvent, or I wish to move my SPVs to another provider?

In the unlikely scenario that Odin is declared insolvent, there is a three-part plan. Aside from that, it is important to note that there is no contagion of the assets an Odin Bare Trust or any other entity Odin administers for you as the Syndicate Lead. Because Join Odin Limited is the administrator of the assets, but not the beneficiary, Join Odin Limited's creditors would have no recourse to assets it holds on behalf of investors.

Funds that are transferred to Odin by you and your investors are held separately to Odin’s own operating cash, and would consequently never be used to cover Odin’s operating costs.

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Three-Part Plan

1. The most likely scenario is that Odin would be acquired by a competitor or a similar business, and as part of that arrangement the new owner would take over Odin’s role. In this scenario, depending on terms set by the new owner, you would be free to “opt out” and transfer any assets to your own SPV.

2. You would also be free to transfer your assets to another entity of your choosing at minimal cost, or, if you are a subscriber and have created your own branded entity 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. If Odin were not acquired by another business, an alternative plan exists. Odin has a memorandum of understanding with Thompson Taraz, an existing fund administration firm in the UK 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.