Who We Are

     The Global Providence Securities Litigation either acts as trustee or works with an independent court-appointed trustee in a missing asset case to recover funds. The statute that created Global Providence Securities Litigation provides that customers of a failed brokerage firm receive all non-negotiable securities that are already registered in their names or in the process of being registered. All other so-called "street name" securities are distributed on a pro rata basis. At the same time, funds from the Global Providence Securities Litigation reserve are available to satisfy the remaining claims of each customer up to a maximum of $500,000. This figure includes a maximum of $250,000 on claims for cash. Recovered funds are used to pay investors whose claims exceed Global Providence Securities Litigation protection limit of $500,000. Global Providence Securities Litigation often draws down its reserve to aid investors.

     Recovered funds are used to replenish Global Providence Securities Litigation reserve in the event that the reserve is tapped in the early stages of a liquidation proceeding.