This update follows my attendance at the Kaupthing hf creditors'
I attended the creditors meeting in Iceland on 5 February 2009 I
attach a copy of the report which was prepared for that meeting.
The Resolution Committee were unable to give any indication of how
much would be distributed to creditors or when. Whilst I will
continue to pursue the balance owed by Kaupthing hf and will make a
claim under the parental guarantee at the appropriate time, I do
not expect a significant recovery. Further creditor information is
available on the website www.kaupthing.com.
hf Creditors' Report 5 Feb 09
Court hearing on 19 February
I continue my discussions with the Treasury regarding the
proposed Scheme of Arrangement ahead of the Court hearing on 19
February. If there is a requirement for me to submit an affidavit
into Court prior to 19 February, it will be made available on the
Telephone conference dial in
Following discussions with the Depositors Action Group I have
set up a fifth conference call which will take place on Monday 23
February 2009 4:00 pm GMT.
I am making the access details generally available to
depositors. If you wish to listen to the call, you will need to
register in advance. Please click the link to register.
Participation will be on a listen only basis. The facility is
provided by a third party and accordingly there is a cost per head
for usage. Should any party register and then not attend the
liquidation will be charged.
The number of lines is limited and I would request that only
those depositors who are able to make the call register
as we will make the audio recording of the call
available on the website for those of you who are
unable to attend. Should depositors choose this route to listen, it
will significantly reduce the costs. The audio recording from the
previous call on 9 February 2009 has now been made available on the
In order to mitigate the risk of fraud, depositor updates will
not be sent by post to Botswana, Kenya, South Africa or Zimbabwe. I
will seek to distribute updates to depositors in these countries by
email or fax. However where depositors do not have access to email
or fax these documents will be sent by post upon their request.
As previously, the best way to make contact is to write to the
bank or to email email@example.com. If you need to
telephone the bank, please use the main switchboard number +44 1624
Joint Liquidator Provisionally