anyone heard of USIF real estate?

Hi all,

Can anyone help? Has anyone heard of "USIF, Real Estate"? One of my in-laws bought shares in this trust many years ago while in Hong Kong. They had no idea what they were buying into, but just did it because some adviser told them it would be a good idea. They've never kept track of the happenings of this trust, and pretty much lost track of everything until recently when they decided they've had enough and want to cash in their shares. Unfortunately, they have no idea how to actually do this. They asked me for help.

I've searched the net, but haven't been able to find out anything. All I have to go on is a letter from USIF that somehow found its way to my in-laws notifying them about an upcoming AGM. Apparently the trustee is "Fidelity Merchant Bank & Trust". I found a contact from "Fidelity" and emailed them asking for help, but no reply.

Any suggestions? It all just seems a bit dodgy and vague.

Cheers

John
 
ouch...

look at this page about paragraph 8... "based in the bahamas"... does not bode well. :(

There's a contact number on this page .

The best I have been able to come up with for USIF is the United States-India fund, which seems to be some sort of fund set up for research between the US and India, it offerred some sort of discounted entry.

Although it may well mean United Serbian institute of feathers...

sorry... but I did have fun looking around!!!

asy :D
 
USIF Real Estate shares

Hi,

I am looking for ""john doe"".
You wrote something about having shares of USIF real estate...I have the same,383 shares:dated nov 9th 1972..
Did you get any answers or is there anyone out there that can help me..?
What do I do with these shares...throw them away or keep them?

thanx from Holland.
 
usif shares

Hello,
Seems that I have a similar problem, my father had shares and last communications was dated on december 1981. Came from "roywest trust corporation (bahamas) limited".
Any information would be usefull
Thanks
crn
 
Usif Real State

I found a street address but it is dated 1987 on the following web site : http://www.icpcredit.com/
(ICP)

Company USIF REAL ESTATE
Street West Bay Street
PO Box N 7788
Country Bahamas

And apparently by 1988, the certificates were still good....so keep them and try to get in touch with the company....I know this because a friend got in touch with the company, which apparently changed its name to NatWest International Trust Corporation (Bahamas) Limited. I tried to look for it, but seems that it changed its name again to Coutts. That is as far as I got because I don´t understand much about bussiness or investments...I just registered here because I thought you could use this information....If you cannot find anything about it you could try contacting the Bahamas Information Services Department:

Cabinet Office
Cable Beach
P.O. Box N8172
Nassau, N. P., The Bahamas
Tel: 242 327 0070/4
Fax: 242 327 0087
Charles Miller, Director (I believe the information was up to date)

I hope this helps....
 
Usif Real State --> Coutts & CO (BAHAMAS) LIMITED

Apparently my father like many of you here bought several shares of USIF in the early 1970's and he is wondering of what company they belong to since it seems like the company has been bought/acquired several times if not bankrupt already.

This information I'm giving you now based on a letter I received from them dated September 24th, 1996.

At the time the shares were traded on an over-the-counter market by Dewaay Luxembourg S.A., 18 Boulevard Royal, BP 843, 2018 Luxembourg. The shares were trading at US0.02 (2 cents) per share.

The letter came from a company titled COUTTS & CO (BAHAMAS) LIMITED. I'm not going to bother give you the phone number on the letter because I tried it today and its no longer in service.

I hope the above information is valuable to you. Please post any successful contacts with the company to this mailing list or the latest update about the company if you know. Good luck.
 
few information

hello

some more information :
isin BSP963131128
exchange place : Luxembourg
last price : 02/20/2006
price : 0.01
last dividend 08/15/1977
no volume

seems to be worthless :mad:
 
E-mail address

Hi, I have a letter dated July 14, 2004 from Fidelity Share Registrars & Transfer Agents Ltd. in Bahamas and in that letter they told me that I coud write to judy.higgs@fidelitybahamas.com to get info on these shares. I always tell my father that this is useless but he refuses to let go. Just to share some info.
 
Thanks Panama for providing the above email. I have emailed Judy Higgs regarding the company stock and surprisingly she replied by saying the stock certificate we have is still valid and the current stock price is 10 cents per share. The company stock is not listed under any stock exchange market, and unfortunately, there are no buyers :(
 
I am glad to hear she responded. Well maybe in a couple of decades we will be able to get something out of it. 0.10 cents? its depressing. Will keep in touch.
 
USIF Trust

I am on the same situation than most people on this forum. I just wanted to know if some of you received information that this trust has a net asset value of $5,090,000.

Was anyone finally able to track down the company handling this trust? The documentation I have dates back to September 2001.
 
Last edited:
estopadecoco, The last time I talked to the broker who mentioned above, they said there are no activities to this stock (no buyers). I doubht there are any activities going on with the stock.

I recommend you contact Judy Higgs (email above) about the status of the stock or any related questions. She has to verify first you are actually stock owner, then she will give you the information.

Please update this forum with your findings. Good luck :)
 
Hi guys, just as information. I received info on these shares two weeks ago from fidelity bahamas (of course upon request) and the price of 0.10 cents per share with no buyers remains. They sent me the financial statements dated 2004 which are the latest and they are depressing. If any of you would like to receive a copy please e-mail me at info@kerubines.com and I will gladly send you the e-mail I received.

I am copying here the net loss for 2004 and 2003 respectively

USIF, Real Estate
(A Trust established under the laws of the Commonwealth of The Bahamas)

Statement of Operations
For the Year Ended 29 February 2004
(Expressed in United States dollars)


Net Loss for the Year (196) (365)
 
My dad has the same problem as most of you. He has some shares of this trust, but has no idea how to cash them. He just received a letter from Clive Anderson, Chairman of the Trust Board of USIF Real Estate, with a "lite" report of what has happened with USIF, and BGI (USIF´s main asset). There is no real news about how the trust is doing financially, except for the last parragraph of the letter where it says:
"BGI is now a much simpler (albeit smaller) entity than it was a few years ago, because of its programme of steady debt reduction. It is clearly in a position to be wound up completely in the next few years (or sooner, if it can find a buyer for its remaining assets). Al that point USIF would also be in a position to liquidate (which would likely occur under the supervision of the courts in the Bahamas) and make a final distribution to its shareholders. At this time it is completely impossilbe to predict the size of such a distribution..."
Attached to the letter, there is an offer, in which a group named SPD Bahamas Limited is offering to buy the shares of USIF at $0.20 per share.
Has anyone received a similar letter? Is it a good idea to cash in the shares at this price? Take the money and run?
 
Hi,

My father, who died last year,also invested in USIF and has received the very same letter and offer. Will Investigate this mater and post again. It would be good to know what alternative action we could take. Did any of you receive any full finacial statement recently ?

Per
 
What is with all the single posters replying to this thread? It started in 2003 & has not gone anywhere... Asy, Pete- time to lock it up?
Steve
 
hey everybody, i was translating for a friend a letter that was from USIF, and got interested in knowing more about it because they were offering to buy my friend's shares (at US$0.20 each by the way). It's a long letter informing an explaining a lot of things.
It seems to me a little weird that there's no information on the internet about this so called real state.
I would love to help anyone who needs to :) or would like to know more of this buying offer from USIF.
To contact this USIF people, here are some addresses:

SPD at c/o The Broadstone Group, INC., 156 West 56th Street, New York, NY 10019, or via telephone at (212) 333-2107

51 Frederick Street, P.O. Box N-4853, Nasssau, Bahamas, telephone: (242) 356-7764, fax (242) 326-3000.

Secretary: Judith Bory

Current members of the Trust Board: Mr. Robert Keeney and E. Clive Anderson.

Current Trust Board Chairman: E. Clive Anderson.

I hope you can contact them and get a response.

Well, this is the most interesting part of the letter to me:

"The Future

BGI (also known as USIF) is now a much simpler (albeit smaller) entity than it was a few years ago, because of its programme of steady debt reduction. It is clearly in a position to be wound up completely in the next few years (or sooner, if it can find a buyer for its remainig assets). At that point USIF would also be in a position to liquidate(wich would likely occur under the supervision of the courts in the Bahamas) and make a final distribution to its shareholders. At this time it is completely impossible to predict the size of such a distribution; however, the Custodian Trustee and the Trust Board look forward to the day when that occurs and are working actively to achieve it and bring to ana end USIF's complicated but interesting 30-plus year history"
 
hi all
unlike yo yo ma I think that we should not lock this post
I am very interested in the people that have responded to this post.
I have no idea what or who this usif is
but I am interested in the areas that these single posters are in.
and maybe then can do a second post each with what they invest in in there respective countries
what there growths are and if these shares were worth anything in there countries what they would invest in.
I was of a similar view as to why every person was a single poster so how or why did they get here and in my type of business networking is very imortant and knowledge is the key
 
I was of a similar view as to why every person was a single poster so how or why did they get here and in my type of business networking is very imortant and knowledge is the key
It’s very simple really…….just type USIF Real Estate into google and look at the results.

People searching for information end up here………nothing sinister happening.
 
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