What happens if Odin becomes insolvent?

In the unlikely scenario that Odin is declared insolvent, there is a three-part plan. Aside from that, it’s 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 investee company. 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.

Three-Part Plan

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 management of all assets Odin holds. 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 nominee.

You would also be free to transfer your assets to another nominee entity of your choosing at minimal cost. Odin would ensure that all necessary documentation and information was passed on to you in order for you to carry out this function appropriately.

If Odin were not acquired by another business, an alternative plan exists. Odin has a memorandum of understanding with Thompson Taraz, an existing fund management 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.