Attached is the summary of balances held at 31 May 2010.
Position 31 May 2010
Attached is the summary of the loan book position at 31 May
Loan Book 31
During May 2010 three facilities were redeemed in full realising
£2.5m and several partial redemptions totalling £3.2m were
collected, totalling £5.7m.
The loan book details shown have been converted to sterling
using exchange rates as at 31 May 2010.
The Joint Liquidators have purchased currency options to hedge
certain of the future loan receipts. Options purchased to hedge
future Euro receipts were matched against the relevant loans
included in the summary at 31 May 2010, and we have calculated that
they would add a further £2.25m to the value of the receipts due on
I can confirm that it is our intention to pay a third
distribution in July 2010. The amount of distribution is expected
to be in the region of 11%. The amount will be confirmed nearer to
the distribution when the amount of cash available is known.
Any creditors who have not yet submitted a claim, either
directly or through the Depositors Compensation Scheme, are asked
to submit their claims as soon as possible to ensure that they
receive the distributions to which they are entitled.
As previously, the best way to make contact is to write to the
bank or email email@example.com. If you need to
telephone the bank, please use the main switchboard number +44 1624