All Sonray Global Investors Should Take Actions Now
Sonray Action Group has been formed for Sonray Global investors to take actions to get their money back (
http://groups.google.com/group/sonrayinvestors).
I talked to quite a few Sonray clients. Some of them have money in both Sonray Trader and Sonray Global. Among them, some have more money in Sonray Trader than they do in Sonray Global, and believe they should not be part of Sonray Action Group, as they might get less money back overall if they get money back first from Sonray Global. This kind of the thinking could well be wrong. The scenario can only be true if there is money left in Sonray Trader after Saxo Bank’s claim and other expenses.
Saxo Bank has claimed to be a secured creditor for a substantial amount of money. If its claim is successful, the money left in Sonray Trader may not be enough to meet the claim, and Saxo Bank may want to have its hand on the money of Sonray Global. In this circumstance, all Sonray Global investors would be better off to claim their assets in Sonray Global first.
The whole process of getting our money back will be lengthy and costly. It is imperative for us to get as much money out and as early as possible.
I believe Sonray Global investors have strong legal ground to claim the money back in full.
It is for the best interest of all Sonray Global investors to take actions now, no matter how small is the portion of your Sonray Global account in your overall investment.
Join Sonray Action Group:
http://groups.google.com/group/sonrayinvestors
The strategies of our actions:
We now kwon that our account value shown on Sonray Trader are incorrect. Sonray Trader uses the platform of Saxo Bank. Serious questions should be asked about the role Saxo Bank played in the collapse of Sonray.
But it is not wise for us to pursue the case against Saxo Bank before the realization of the value of the trading platform.
We should now:
Try to get as much money out as possible and as early as possible;
Get the public and media attentions;
Seek government and ASIC actions to recover the assets of Sonray;
Write to candidates of major parties to get political support; and
Ask for the possible extension of government guarantee of deposits in financial institutions to Sonray clients.
After the sale of the trading platform:
We should take class actions against Saxo Bank for the full amount of our Sonray Trader accounts and damages caused. And
Seek government and ASIC actions against Saxo Bank.
We should also take actions at anytime against any claim by Saxo Bank to the assets of Sonray or Sonray client account.