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Deceased Estate: In the process of applying Letter of Administration, thus shares of a delisting company will be lost?

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asked on May 24, 2008 at 01:49
by   Esther
edited on Jul 20, 2016 at 19:29
 
I need some helps in understanding share trading of a deceased estate. 

A deceased did not have a will. The deceased estate holding some shares of a KLSE company which is going to be delisted from the stock exchange soon. The deceased's family is not allow to trade the share listed as it is still in the process of applying Letter of Administration.

In this instance, what can the deceased's family do? Will the delisting company going to send a cheque of the market value of the share before it ceased trading in the deceased's name automatically?  What does the deceased family can do?  

Remiser told deceased family they can not do anything but to lose the share.  Honestly, I don't think deceased beneficiary will loss the share/asset just because of they are in the process of applying of a Letter of Administration. I think Malaysia family and estate laws are going to be better than this.

I really appreciate reply as I have been googling for hours.
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2 Answers

answered on Jun 1, 2008 at 14:52
by   IQ LPO
edited Jul 20, 2016 at 19:09
 
If the company is about to delist and has complied with notice requirements of the listing rules of the KLSE then they will do so regardless unless there is a meeting of shareholders (which I suspect has already occurred) to delay the delisting.

Someone should have applied for probate in the cause of a person who has died intestate. If and when the court appoints the representative (lawyer) and gives them letters of probate to act, they should preserve the value of that estate by immediately obtaining a fair market value for those shares then selling them and preserving the money proceeds out of that sale in the estate till the court decides how the estate is to be distributed.
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answered on Jul 3, 2016 at 19:23
by   Fed225
edited Jul 20, 2016 at 19:07
 
Nah... You can't do anything because without the letter of administration/probate, nobody can operate the share trading account and if you do you will be liable for legal actions. Thus you are stuck.
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