What if the investee company enters liquidation?

Please note that all liquidation events should be handled by Odin - In order to avoid mistakes or liabilities, you should not sign documentation on behalf of your syndicate and should consult with us.

As soon as Odin is notified about a liquidation, Odin will understand the nature of the liquidation and the available options for you and your investors.

In the event of an investee company entering liquidation, it is generally simpler for Odin to be sent a drag-along notice rather than signing any documents. However if legals need to be signed, we can do so with full written consent from all of your underlying investors. Unless your SPV is structured as a fund (GP-LP structure) or a BVI SPV, you must allow investors to opt not to exit their portion of shares. As with investment agreements, all communication here needs to be with legal@joinodin.com.

Liquidation Proceeds

If there are any proceeds from the liquidation, which can happen in some cases (such as investors holding preference shares), we will distribute the proceeds to the investors in the same manner as any other exit event. In this case, a full calculation of returns and any applicable carry is completed by Odin’s Deal Operations team. This is shared with you as the Syndicate Lead for approval.

Post-approval, Odin shares documentation with investors and confirms their bank account details (already provided on-platform, but nominated account details can change) by email.

Once this is confirmed and proceeds from the liquidation are received into Odin’s designated account, funds are released to investors.