15 MAY 2009

Parental guarantee and the Scheme of Arrangement

A number of creditors have contacted me regarding the parental guarantee under the Scheme of Arrangement. I can advise that legal advice has been obtained in the Isle of Man, United Kingdom and Iceland which has confirmed the ability to claim from Kaupthing Bank hf regarding the parental guarantee is not affected by the implementation of the Scheme of Arrangement.


As previously, the best way to make contact is to write to the bank or to 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