What to do when a company collapses?

[Ohmama]

Hi guys，I am holding shares in Forge which is collapsed.and entered to the administration. I knew that I am losing all my money for surely，but still wondering what can i do for now？Just wait？

 

[burglar]

Re: Company collapsed.

... still wondering what can i do for now？Just wait？

Watch the Forge thread.

 

[ROE]

Hi guys，I am holding shares in Forge which is collapsed.and entered to the administration. I knew that I am losing all my money for surely，but still wondering what can i do for now？Just wait？

Once it is finalised usually take years, they release an announcement and make it official that this company is done done and dust, it usually list on this site http://www.delisted.com.au/

Money you lose you can now claim as tax loss, you can carry this forward as an investor until such time you make gain to offset it...

the quicker way is http://www.delisted.com.au/sell-your-worthless-shares if you got capital gain and wish to offset it sooner

 

[burglar]

... the quicker way is http://www.delisted.com.au/sell-your-worthless-shares if you got capital gain and wish to offset it sooner

Gee! I wish I knew that earlier.

Then again, what if the shares are not completely worthless.
Best await news from administrator!

 

[Ohmama]

Once it is finalised usually take years, they release an announcement and make it official that this company is done done and dust, it usually list on this site http://www.delisted.com.au/

Money you lose you can now claim as tax loss, you can carry this forward as an investor until such time you make gain to offset it...

the quicker way is http://www.delisted.com.au/sell-your-worthless-shares if you got capital gain and wish to offset it sooner

but now it seems there gonna a class action for the shareholder，will that be help if i am joining it？

 

[burglar]

but now it seems there gonna a class action for the shareholder，will that be help if i am joining it？

Ask the lawyers, how much does it cost to join in?
If it is a no win, no fee, you'll be laffin!

Some cents in the dollar,
is better than a poke in the eye with a sharp stick!

 

[tinhat]

https://www.imf.com.au/cases/info-pack-request/forge-group-limited

 

[Judd]

Hi guys，I am holding shares in Forge which is collapsed.and entered to the administration. I knew that I am losing all my money for surely，but still wondering what can i do for now？Just wait？

Most unfortunate.

It's your money, so it's your call BUT. No one here knows your financial circumstances nor most likely do we wish to know.

So if you're down the gurgler by say $1,000 and that amount of loss is not going to cause you financial harm in the long run, I'd put it down to a learning experience and write the money off. If it's $500k, then presumably you would not be asking people on this forum for advice on what to do.

I realise the above seems callous but I am actually not unsympathetic. Just sit down, take a few deep breaths, gather information and then think about what you wish to do is the best suggestion I can provide. Remove emotion.

 

[burglar]

... Remove emotion.

Agree +1

It's business!