UNHAV©

UN ITED     HA LIFAX plc     V ICTIMS

 

WHAT !   NO HALIFAX plc SHARES !

YOU'RE NOT ALONE.

UNITE with THOUSANDS of EXCLUDED NON-RESIDENT,  FULLY  ELIGIBLE HALIFAX MEMBERS for

TO READ the SCANDAL of HOW 55,000 WERE CHEATED, CLICK HERE !

 

UNHAV Campaign Director, Brian Hazlehurst, originally from Liverpool, England,  economist, currently  a  legal/business translator residing in Rio de Janeiro, Brazil,  was  himself  an UNHAV, a Halifax  Building  Society demutualisation VICTIM. Upon Halifax's conversion into a bank, although a co-owner and fully eligible, Brian suffered gross exclusion from the free share distribution  scheme, receiving neither his rightful shares nor the FORM B cash equivalent. This cash in lieu could so easily have been paid directly into his UK Halifax account, just as occurred for millions of members resident, at the time, in the UK or a handful of so-called "permitted territories".

HALIFAX had the gall to inform Brian that he got zero shares, because the number of  investors  eligible for them, resident in Brazil, was "IMMATERIAL", which, as they belatedly informed him, meant "less than 1,000 members"! Note here the blatant inconsistency in that, for example, the miniscule no. of investors in Iceland, only 4-5, did receive shares.  

Brian Hazlehurst
Photo by Ricardo Beliel.  (click photo for Rio map)

Over 55,000 member-owners eligible for shares and not resident in UK at conversion time, were told a "cock'n bull" story, that the local Securities & Exchange Commission (SEC) clearance fee would have been too "onerous" (read: expensive), or even informed that it was actually "illegal" to send shares to certain countries. The major "cock-up" Halifax is guilty of, and which, to this day, over 8 years later, refuses to admit and put right, is that FREE shares (nothing more than GIFTS), do not require any clearance whatsoever.

Halifax knows perfectly well that SEC clearance only occurs when a company wishes to offer shares a) FOR SALE and b) to the GENERAL PUBLIC, in another country.  Spelling this point out loud, why on earth would any country's stock exchange authority need to "protect" people from receiving a GIFT from a private institution that they themselves own !? Note that, in NZ, there is already a successful precedent based on this very same argument.

Taking the USA, for instance, Halifax denied to the 12,628 eligible members, 7,375,000 FREE Halifax shares, worth over £54 MILLION. Later, Halifax, in its written defence evidence, at a small claims hearing before Leeds County Court, Yorkshire, UK, argued that USA SEC clearance would have been required, and that the estimated fee of 10 -15 thousand pounds would have been prohibitively expensive for them to send shares to that country (10 -15 thousand against 54 million is ! Likewise, Halifax denied millions of pounds in shares to thousands more members in countries like Canada, NZ, Holland (a major EU country !), Malaysia ..... and a very long list of others scattered across the globe.

Note well that no cash equivalent was offered instead of the shares. And, in any case, who ever asked Halifax to send the shares outside the UK, where all the accounts were held? And, as if to add salt to the wound, those NOT even eligible to vote on the conversion (i.e. minors and those with tiny balances under £100) did receive a benefit from the conversion, and for free (paradoxically, Halifax paid a reward for being INeligible !) in the form of a  "Statutory Cash Bonus", paid, with absolutely no restriction, in countries all over the planet.

So, what insane reason can Halifax possibly have for allocating zero to its loyal, perfectly eligible member-owners (often spanning across several family generations), many of whom held large investment balances and mortgages, AND voted in favour of the conversion as so strongly urged !?

UNHAV founder, Brian is determined to win his 11-year-long challenge to ensure Halifax pays up, turning ALL  UNHAVs  INTO  HAPPY  "HAVs".

Enjoying  equal  rights  as  mutual  OWNERS  of  the  former  Halifax Building Society, and for a whole spectrum of glaring legal arguments, the UNHAVs' claims to the hundreds  of  millions  of  pounds of unpaid shares should be recognized by the UK Financial Services Authority – FSA, the SEC and all regulatory agencies around the world.

 

 

 

NEWSFLASH


 12th APRIL 2008

To: UNHAV Members and all the other 55,000 Claimants Worldwide.

PLAN B:  I urge all claimants to pressure the UK Financial Services Authority – FSA into proper action, request a declaration from the Securities & Exchange Commission – SEC or Stock Exchange / Central Bank, or other financial regulatory authority in the country where you were resident at Halifax conversion time. I suggest that you complain along these lines:

“As my Halifax shares were a FREE gift to me as a qualified/eligible  member of the building society, and definitely NOT for sale to the general public in the country where I happened to be situated at Halifax demutualization time, no securities clearance procedure and respective fee was required, that is, there was no reason whatsoever to justify Halifax not issuing my shares. In any case, my allocation could have been held for me in the UK, or the cash equivalent paid directly into my UK account via the very same ‘Form B’ procedure used by millions of UK residents and those in Halifax’s erroneously termed ‘permitted’ territories.”

Please report your success in this campaign effort via the ‘CONTACT UNHAV NOW !’  link below.

WISHING YOU ALL A  VERY "HAVFUL" FUTURE

 

 

Your Mantra:     All  UNHAVs  Shall  Be  Happy  HAVEs !

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Revised 12th April 2007