06 JULY 2010

Third distribution

The Joint Liquidators are pleased to announce that a third distribution of 11.1% will be paid on 9 July 2010 to all creditors whose claims have been agreed. This will bring the total distributions to date to 51.1%.

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 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 will be accepted by the DCS after 27 November 2010. This represents an absolute cut-off date. 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