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Information for aggrieved parties following the declaration of insolvency of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.

25 March 2016
Notification by KDPW and the Polish Financial Supervision Authority to investors of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.
Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) and Komisja Nadzoru Finansowego (KNF - the Polish Financial Supervision Authority) hereby give notice that compensation payments are currently being offered to the clients (“investors”) of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (FIT DM), following an official declaration by the Polish Financial Supervision Authority that FIT DM is unable to meet its obligations in connection with claims submitted by its investors.
The payment of compensation shall be performed in accordance with the provisions of the Law on Trading in Financial Instruments of 29 July 2005 (Dz.U (Journal of Laws) of 2014, item 94, with later amendments). Investors of FIT DM entitled to receive compensation shall be named on a list of entitled investors. The list has been prepared according to principles defined in the aforementioned Law. Compensation payments for persons included on the list of entitled investors shall be made according to the amounts described in the list by KDPW on the basis of compensation claims submitted by investors.
Those persons whose claims are not included on the list of investors entitled to receive compensation payments, will be able to apply to KDPW for payment of compensation, however, they will first need to obtain a legal decision from a court confirming both the right to obtain compensation and the compensation amount.
CZ
Zpráva KDPW (Polský depozit cenných papírů) a KNF (Úřad pro regulaci finančního sektoru) pro investory First International Traders Dom Maklerski S.A
Krajowy Depozyt Papierów Wartościowych (Polský depozit cenných papírů) S.A. spolu s Úřadem pro regulaci finančního sektoru sdělují, že probíhají výplaty odškodnění pro bývalé zákazníky (dále jen: investor) investiční firmy First International Traders Dom Maklerski S.A. (dále jen: FIT DM) v souvislosti se zjištěním Úřadu pro regulaci finančního sektoru, že FIT DM není schopen plnit své závazky vyplývající z nároků investorů.
Výplaty odškodnění se provádějí v souladu s ustanoveními zákona ze dne 29. července 2005 o obchodování s finančními nástroji (Sb. z r. 2014, pol. 94, ve znění pozd. předpisů). Subjekty oprávněnými obdržet odškodnění jsou investoři FIT DM, uvedení na seznamu investorů oprávněných obdržet odškodnění. Tento seznam byl vyhotoven v souladu s pravidly uvedenými ve výše zmíněném zákoně. Výplatu odškodnění osobám uvedeným na seznamu oprávněných investorů, ve výši, která z něj vyplývá, provádí Polský depozit na základě příkazu k výplatě odškodnění podaného investory.
Osoby, jejichž nárok nebyl zahrnut do seznamu investorů oprávněných k výplatě odškodnění, se budou moci obrátit na Polský depozit s žádostí o výplatu odškodnění, avšak teprve po získání právoplatného soudního rozhodnutí, dokládajícího nárok na obdržení odškodnění a jeho výši.


2 February 2016
Communiqué re.: The payment of compensation to investors of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.
On 29 January 2016, the Management Board of Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) adopted a resolution on the payment of compensation to investors of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A., included on the list of investors presented to KDPW by FIT DM S.A. on 13 January 2016.
The compensation payments shall be made between 15 February 2016 and 29 April 2016, following the submission of an instruction by the authorised entity, in accordance with the compensation payment instruction.
Any queries relating to compensation payments should be sent to the following email address rekompensaty@kdpw.pl and to the following telephone numbers: +48 22 537 93 83 and +48 22 537 95 34.

Instruction of payment of compensation to investors who are clients of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.
Instruction for the payment of compensation for an investor, being a client of INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (Natural Persons)
Instruction for the payment of compensation for an investor, being a client of INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (Corporate Entities)

14 January 2016
Communiqué re.: List of investors of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. eligible to receive compensation
On 13 January 2016, FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (FIT DM) provided Krajowy Depozyt Papierów Wartościowych S.A. with a list of investors eligible to receive compensation from the Compensation Scheme. Following the receipt of the list of investors, Krajowy Depozyt Papierów Wartościowych will immediately take action to check whether the gaps identified by Krajowy Depozyt Papierów Wartościowych in connection with the refusal to accept the list provided by the FIT DM Management Board on 17 April 2015 have been closed and whether the list has been drawn up in accordance with the requirements of Article 140 of the Act on Trading in Financial Instruments of 29 July 2005. The decision accepting or refusing to accept the list of investors will be taken by the Management Board of Krajowy Depozyt Papierów Wartościowych within 30 days of its receipt.

9 December 2015
Communiqué re. FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (FIT DM):
Krajowy Depozyt Papierów Wartościowych S.A. announces that the District Court for the City of Warsaw in Warsaw issued a decision of 17 October 2015 appointing Mr Łukasz Paszkiewicz, former President of the Management Board of FIT DM S.A., as Trustee of the Company and authorised the Trustee to immediately appoint the authorities of the Company and, if necessary, to liquidate the Company.
The appointment of FIT DM’s authority eligible to represent the Company will enable FIT DM to submit an adjusted list of investors and, consequently, to continue the use of resources of the compensation scheme for payments to investors who incurred a loss.

14 September 2015
Communiqué on the list of investors that are clients of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. („FIT DM”):
Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) hereby notifies that it has to date not received the correct list of FIT DM investors, which is a necessary requirement for issuing payments from the Investor Compensation Scheme.
On 11 September 2015, KDPW received notification that an application has been lodged with the District Court of the City of Warsaw, XII Business Division of the National Corporate Register, to appoint an overseer for FIT DM, principally in order to commence the process of convening the governing bodies of the company, of meeting the formal obligations with respect to KDPW and of making payments to FIT DM clients from the Investor Compensation Scheme. The applications have been lodged in accordance with the provisions of Article 42 § 1 of the Civil Code by a shareholder of FIT DM and by the former President and CEO of the management board of the company. At present, owing to the tended resignations of members of the management board and supervisory board of FIT DM, the company is lacking an authorised body to determine the list of FIT DM investors to provide to KDPW.

15 May 2015
Communiqué on the refusal to accept a list of investors who are clients of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.
Following the submission by the Management Board of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. (FIT DM) on 17 April 2015 of a list of investors of FIT FM entitled to receive compensation from the Compensation Scheme, considering that the list does not meet the conditions laid down in Article 140.1(1) of the Act on Trading in Financial Instruments of 29 July 2005 and is not accompanied by the documents referred to in Article 140.1(2)-(4) of the Act, Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) has decided to return the list and request the Management Board of FIT DM to remedy the deficiencies identified by KDPW. Pursuant to Article 140.5 of the Act on Trading in Financial Instruments, the Management Board of FIT DM is required to remedy the deficiencies within no more than 14 days.

23 April 2015
Communiqué concerning FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A.
On 17 April 2015, the Management Board of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI S.A. submitted to Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) a list of investors entitled to receive compensation from the Compensation Scheme. Following the receipt of the list of investors, KDPW has taken measures necessary to check the list against the requirements laid down in Article 140 of the Act on Trading in Financial Instruments of 29 July 2005.

12 January 2015
KDPW has taken measures necessary to activate the Compensation Scheme in the event of payment of compensation due to investors
Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) announces that the Polish Financial Supervision Authority (KNF) adopted a resolution of 8 January 2015 pursuant to Article 133.2(3) of the Act on Trading in Financial Instruments of 29 July 2005 to the effect that FIRST INTERNATIONAL TRADERS DOM MAKLERSKI SA is unable, for reasons closely related to its financial standing, to perform its obligations arising from claims of investors, which cannot be performed in near future. Consequently, Krajowy Depozyt Papierów Wartościowych has taken measures necessary to activate the Compensation Scheme in the event of payment of compensation due to investors – clients of FIRST INTERNATIONAL TRADERS DOM MAKLERSKI SA. The terms of operation and activation of the Compensation Scheme are laid down in Section V of the Act on Trading in Financial Instruments and in the Rules of the Compensation Scheme.
Last modified:29-03-2016 Go up