Attached is the summary of cash balances held at 31 December
Cash balances increased by approximately £1.90 million during
the month. Loan repayments, interest and other income totalled
approximately £1.95 million. Catch-up distributions and expenses
were approximately £0.05 million.
Attached is the summary of the loan book position at 31 December
During December 2012, two facilities were redeemed in full and
one in part realising £1.9 million overall.
The loan tables shown have been converted to Sterling using
exchange rates as at 31 December 2012.
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 December 2012, and we
have calculated that they would add a further £1.1 million 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 December 2012, and
we have calculated that it would add £630 to the value of the
receipt due on this loan.
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