20 AUGUST 2009

First distribution

The Joint Liquidators will shortly be paying the first distribution to unsecured creditors. Based on cash currently in hand, the first distribution would be 22.1 pence in the pound. However, during the course of the next two weeks, further material receipts of cash are expected which, if received, would increase the distribution further.

In order to ensure that the first distribution is as large as possible, it has been agreed with the Committee of Inspection that the distribution will be paid on Friday 4 September 2009. A further announcement will be made on this website when the level of the first distribution has been finalised, and a further update on the progress of the liquidation will be made on this website in the next few days.


As previously, the best way to make contact is to write to the bank or email branch@singers.co.im. If you need to telephone the bank, please use the main switchboard number +44 1624 699222.


Mike Simpson

Joint Liquidator Provisionally