IMPORTANT: The information provided below is not to be considered a solicitation of any kind in any way. This information is not applicable or available to any party coming in contact with this information (whether inadvertently or intentionally) who is not a sophisticated or accredited investor. By continuing to read the information below, you affirm that you are a financially sophisticated or accredited investor. Further information regarding this historical asset opportunity will be provided only in direct response to a request for that information from yourself or through your duly appointed liaison/representative.
OLDHistorical Asset Purchase Update-4
Review our Complete Historical Asset Sale FAQs
Review our Complete Historical Asset Sale FAQs
Update - May 7, 2021
Over the past few days, SRM has received additional information and understanding related to the current status of the Historical Asset Sale and Purchase opportunity underway right now. This Update-4 represents our best effort to summarize the current status of this opportunity--based on information we've received from our attorney contact who is a principal in the tier-1 trade group to which our client's packages have been submitted.
No new Phase-4 package collection period has been announced. Instead, it appears that the Phase-3 package collection period has been "unofficially" extended for an unspecified amount of time.
Currently Expressed Buyer Interest
At the present time, the Buyer's purchase interest appears to be focused on:
Status Reports on Submitted Packages
Accurately reporting package status has been a challenging endeavor. SRM does receive regular periodic updates from our trade group source, however, the trade group can only report to us what has been reported to them by representatives of the foundation buyers. Apparently, at the trade group level, there has been a growing level of frustration with the inconsistency and unreliability of the information being received from the representatives of the foundation buyers. Unfortunately, that buyer-representative provided information has shifted like sand, leaving everyone from trade group principals to bond sellers unsure about what information they can actually consider dependable. It is painful for us to have to say this, but we want to be as transparent as we can be with our clients. That said, here is the latest status information that has filtered through to SRM from trade group sources.
U.S. Historical Assets
SRM has been unable to obtain clarification regarding actual purchase interest in U.S. Historical assets such as TOV, FRN boxes, etc. The only response we have received regarding U.S. assets is that there is interest in the $10,000 U.S. Treasury Bond, 10 1/8% of 1994. if you have this 1994 bond in quantities greater than 500, we will assist you in submitting your package.
Submission of additional German Bond and Super Petchili packages
We have been advised that the only packages currently being accepted are packages that contain 1,000 or more bonds--with emphasis on the 1924 German bonds and the Chinese Super Petchili bonds described above. SRM is counseling bond sellers (1) to submit a minimum of 1000 serial numbers so they can be verified to be serial numbers that have not been previously submitted, (2) to submit the complete package with the serial numbers for at least 1,000 bonds, and (3) to make sure they include in their original submission package the serial numbers for "all" the bonds of that type that they have available and that they really want to sell.
Processing Activities
The following list represents SRM's best understanding of the Processing Activities:
Commissions
The total commission being paid by the Buyers is 10%. Rather than the normal division of the total commission into 50% for the buy-side parties and 50% to the sell-side parties, the entire 10% commission will be split equally between all buy-and sell-side parties. There are 5 parties expected on the trade-group buy-side plus an unknown number of banker/buyer representatives that will be included. At the appropriate time, each intermediary will be asked to submit a designated CIS document that includes the paymaster to which their portion of the commission will be delivered by the Buyer's paymaster.
Payment process for Intermediaries
The prime paymaster will make one payment to the seller and one to a paymaster representing all intermediaries. Each intermediary will be required to establish an account with the intermediary paymaster and then arrange for any further distribution of payments directly with that paymaster. The U.S. attorney and Federal Paymaster that has been chosen to distribute intermediary commissions is located in Florida and has U.S. Homeland Security clearance for making distributions anywhere in the world. SRM will be providing its client-side intermediaries with the documents needed to create their paymaster account.
Over the past few days, SRM has received additional information and understanding related to the current status of the Historical Asset Sale and Purchase opportunity underway right now. This Update-4 represents our best effort to summarize the current status of this opportunity--based on information we've received from our attorney contact who is a principal in the tier-1 trade group to which our client's packages have been submitted.
No new Phase-4 package collection period has been announced. Instead, it appears that the Phase-3 package collection period has been "unofficially" extended for an unspecified amount of time.
Currently Expressed Buyer Interest
At the present time, the Buyer's purchase interest appears to be focused on:
- 1924 German External Loan (Dawes) bonds $1000
- Chinese Super Petchili bonds
Status Reports on Submitted Packages
Accurately reporting package status has been a challenging endeavor. SRM does receive regular periodic updates from our trade group source, however, the trade group can only report to us what has been reported to them by representatives of the foundation buyers. Apparently, at the trade group level, there has been a growing level of frustration with the inconsistency and unreliability of the information being received from the representatives of the foundation buyers. Unfortunately, that buyer-representative provided information has shifted like sand, leaving everyone from trade group principals to bond sellers unsure about what information they can actually consider dependable. It is painful for us to have to say this, but we want to be as transparent as we can be with our clients. That said, here is the latest status information that has filtered through to SRM from trade group sources.
- Master Contracts have been issued to 12 extremely large sellers (whales) of 1924 German bonds.
- 1% advances have been paid to 11 of these whales.
- As soon as the one remaining whale is paid, then Sub Contracts (and 1% advance offer, where applicable) will go out simultaneously.
- After the German bonds are closed, the buyers will proceed to contract on Chinese Super Petchili bonds.
U.S. Historical Assets
SRM has been unable to obtain clarification regarding actual purchase interest in U.S. Historical assets such as TOV, FRN boxes, etc. The only response we have received regarding U.S. assets is that there is interest in the $10,000 U.S. Treasury Bond, 10 1/8% of 1994. if you have this 1994 bond in quantities greater than 500, we will assist you in submitting your package.
Submission of additional German Bond and Super Petchili packages
We have been advised that the only packages currently being accepted are packages that contain 1,000 or more bonds--with emphasis on the 1924 German bonds and the Chinese Super Petchili bonds described above. SRM is counseling bond sellers (1) to submit a minimum of 1000 serial numbers so they can be verified to be serial numbers that have not been previously submitted, (2) to submit the complete package with the serial numbers for at least 1,000 bonds, and (3) to make sure they include in their original submission package the serial numbers for "all" the bonds of that type that they have available and that they really want to sell.
Processing Activities
The following list represents SRM's best understanding of the Processing Activities:
- On new packages being submitted at this time, sellers are being asked to first provide the list of bond numbers before submitting their package. There have been multiple instances of duplicate serial numbers being submitted and the trade group doesn't want to receive new packages unless the serial numbers are new and not previously submitted.
- Trade Groups review incoming packages to determine which ones are most desirable to foundation Buyers.
- Deep-level due diligence on seller and asset validation is performed on the assets by Buyer’s representatives and Banks.
- Based primarily around mega-sized packages of bonds that have been made available for purchase, pools of packages (including the "smaller" large packages) are created for each geographical location.
- Master Contracts are issued for extremely large bond packages chosen for purchase.
- 1% advance payments are made for applicable German bond packages.
- Sub Contracts are issued for smaller bond packages chosen for purchase.
- 1% advance payments are made for applicable German bond packages.
- Tabletop Meeting dates are scheduled, based upon the logistical closing capabilities of the mega-sized asset owners.
- Purchases and final payments are made at the Tabletop Meetings.
Commissions
The total commission being paid by the Buyers is 10%. Rather than the normal division of the total commission into 50% for the buy-side parties and 50% to the sell-side parties, the entire 10% commission will be split equally between all buy-and sell-side parties. There are 5 parties expected on the trade-group buy-side plus an unknown number of banker/buyer representatives that will be included. At the appropriate time, each intermediary will be asked to submit a designated CIS document that includes the paymaster to which their portion of the commission will be delivered by the Buyer's paymaster.
Payment process for Intermediaries
The prime paymaster will make one payment to the seller and one to a paymaster representing all intermediaries. Each intermediary will be required to establish an account with the intermediary paymaster and then arrange for any further distribution of payments directly with that paymaster. The U.S. attorney and Federal Paymaster that has been chosen to distribute intermediary commissions is located in Florida and has U.S. Homeland Security clearance for making distributions anywhere in the world. SRM will be providing its client-side intermediaries with the documents needed to create their paymaster account.
Note: Details regarding this asset sale opportunity have never been presented to SRM in writing. What you read here on our web page is SRM's best understanding of the information initially relayed to us in phone conversations with the principal, or his direct representative, of the Tier-1 trade group that is in-taking packages on behalf of the Foundation Buyers. SRM attempts to update this information as we receive new or more clarified information, consequently the above information may be modified at any time. In addition, this purchase opportunity may terminate and be withdrawn from availability without any advance notice.
Request More Information
The above program was available recently. We are continually introduced to a wide variety of programs and the program mentioned above may no longer be available as specified above. Each program has its own structure and requirements. If you have specific questions, then upon your formal request, we will assist you in obtaining this information. Unless you have previously submitted it, use our Request for Information form to submit your formal information request now and we will respond to you promptly.
Request More Information
The above program was available recently. We are continually introduced to a wide variety of programs and the program mentioned above may no longer be available as specified above. Each program has its own structure and requirements. If you have specific questions, then upon your formal request, we will assist you in obtaining this information. Unless you have previously submitted it, use our Request for Information form to submit your formal information request now and we will respond to you promptly.
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