10 DECEMBER 2010

Fourth Distribution

The Joint Liquidators are pleased to announce that a fourth distribution of 10 pence in the £ will be paid on 15 December 2010 to all creditors whose claims have been agreed. This will bring the total distributions to date to 61.1 pence in the £.

There are some cases where payments are being held over due to queries over the amounts claimed, payment details or signatures. We will continue to work through these queries as quickly as possible so that catch-up payments can be made to the relevant creditors.

We are aware that there are a number of potential creditors who have not yet submitted a claim, either directly or through the Depositors Compensation Scheme. We invite those creditors to submit their claims to the liquidation as soon as possible so that they can receive the distributions to which they are entitled.

The Manager of the Depositors Compensation Scheme has stated that no new claims are being accepted by the DCS since 27 November 2010. Further details can be found at www.dcs.im.


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