Agreement of creditors'
The following statistics show the current position regarding the
agreement of creditors' claims:
If you compare these figures to the summary published on 31
January 2011, you will note that a further 282 claims have been
agreed in the last eight months with a total value of £3m. The
total value of agreed claims is now £891m. Since that update, a
further 51 claims with a total value of £1m have been rejected in
full and 17 claims with a total value of approximately £200,000
have been rejected in part, so the current position is that 64
claims worth a total of £12m have been wholly rejected and 57
claims have been rejected in part, the rejected portions totalling
The increase in the number of claimants repaid in full through
the Early Payment Scheme from the website update of 31 January 2011
of 1,475 to 1,503 in the table above is due to depositors advising
the Joint Liquidators that they consider they were fully repaid
through this Scheme and would not be submitting any additional
claim in the liquidation.
The reduction in the value of Proof of Debt forms approved and
processed from the website update of 31 January of £567m to £564m
in the table above is due to a number of depositors who have
successfully applied for compensation through the Depositors'
Compensation Scheme after their claim through the liquidation had
been admitted for dividend. We have been advised by the Scheme
Manager that the value of any compensation paid was reduced by the
value of any dividends paid directly to the depositor in the
liquidation. The value of Proof of Debt forms approved and
processed of £564m includes 25 admitted claims with a value of
£0.4m who have applied for compensation through the DCS but have
not completed the DCS approval process.
The figures in the above table are stated after rejections and
also after set-offs, so the current figure against which the
percentage of distributions is calculated is £905m, which is the
total of approved claims, claims not yet approved and claims which
are expected but have not yet been received.
Claims not approved and claims
Any creditors who have not yet submitted a claim are urged to do
so as soon as possible so that they can receive the distributions
to which they are entitled.
Any creditors who have submitted a claim through either the
Depositors' Compensation Scheme or directly in the liquidation but
who have not yet received the dividends or compensation to which
they are entitled are urged to contact the bank via the details
below in order to resolve the outstanding issues with their
The Scheme Manager has advised that the deadline for new claims
to be accepted by the DCS has now passed.
The best way to make contact is to write to the bank or
email firstname.lastname@example.org. If you need to
telephone the bank, please use the main switchboard number +44 1624