Rightful Claims (Worthing Clark) Are They Legitmate?

[MagicMo]

My ex wife & I have received separate letters from Rightful Claims (RC) (part of Worthington Clark Pty - WC) in August 2021, regarding lost / unclaimed shares & dividends when Colonial Mutual was taken over by the Commonwealth Bank (CBA), my research has shown both RC & WC to be legitimate, has there been anyone who has dealt with these companies successfully?

[barry1010]

This time next year you could be millionaires! :D

No, I haven't had any dealings with that company or any other asset recovery company - I do hope it's genuine and you get an unexpected windfall

[Buenchico]

I stand by my post on the 2016 thread that you've already found:
https://www.theanswerbank.co.uk/Law/Question1523292.html

[MagicMo]

Hi Buenchico

I have researched the companies & it seems they are legit, also tried to locate via numerous sites for Colonial & Commonwealth Bank (CBA) lost share & dividends, no success!

They have disclosed CBA shares & dividends but only the monetary value (no reference #'s of course!), which seem feasible as my ex wife & I had endowment policies with Colonial Mutual

But they do require some documents to be witnessed, Limited Power of Attorney, Letter of Authority, Payment Instructions (I opened a new online bank account for this purpose), passport & proof of connection to my current address

There is no fee payable up front, I negotiated the original 30% fee to 17.5%

Your thoughts?

[Buenchico]

Read the wording of that Limited Power of Attorney very carefully, to check that you're not handing over direct access to your money to the firm. (If you're unsure about even the smallest thing, get a solicitor's opinion). Then, unless you discover any other causes for concern, go for it.

[MagicMo]

Good call re: Limited Power of Attorney, as they would become responsible & then own the shares for sale & should then take their fee & balance paid to ourselves

My concern is they could just keep the shares, I will get a solicitor opinion & review the entire documents & procedures

Cheers