11 FEBRUARY 2013

Cash Position 

Attached is the summary of cash balances held at 31 January 2013.

PDF Cash Position

Cash balances increased by approximately £4.5 million during the month. Loan repayments, interest and other income totalled approximately £4.5 million. Distributions and expenses were approximately £6,500.

 

Loan Book

Attached is the summary of the loan book position at 31 January 2013.

PDF Loan Book

During January 2013, three facilities were redeemed in full and two in part realising £4.4 million overall.   

The loan tables shown have been converted to Sterling using exchange rates as at 31 January 2013.

The Joint Liquidators have purchased currency options to hedge certain of the future loan receipts.  Sterling options purchased to hedge future Euro receipts were matched against the relevant loans included in the summary at 31 January 2013, and we have calculated that they would add a further £585,000 to the value of the receipts due on these loans.  A Sterling option purchased to hedge a future US dollar receipt was matched against the relevant loan included in the summary at 31 January 2013, and we have calculated that it would add £303 to the value of the receipt due on this loan.

Contacts 

The best way to make contact is to write to the bank at PO Box 197, Third Floor, Sixty Circular Road, Douglas, Isle of Man, IM99 1SN, or email ksf@iom.pwc.com. If you need to telephone the bank, please use the number +44 1624 699222. All other numbers in previous use are now switched off or auto-forward to +44 1624 699222. Please be aware that all telephone calls are recorded for security purposes.

 

Mike Simpson
Joint Liquidator