Attached is the summary of cash balances held at 30 April
Cash balances increased by approximately £2.2 million
during the month. Loan repayments, interest and other income
totalled approximately £2.2 million. Expenses were approximately
Attached is the summary of the loan book position at
30 April 2013.
During April 2013, one facility was redeemed in full
and two facilities were redeemed in part realising £2.2 million
The loan tables shown have been converted to Sterling using
exchange rates as at 30 April 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 30 April 2013, and we
have calculated that they would add a further £0.5 million to the
value of the receipts due on these loans.
Attached below is a copy of the notice for the next dividend
which has been published in the press and sent to all known
creditors who have not yet submitted a claim.
Notice of eighth dividend
In accordance with the advertisement, creditors who have not yet
submitted a Proof of Debt form are required to return the completed
form to the Joint Liquidators prior to 21 May 2013 in order to be
included in the eighth dividend.
For claimants with an admitted claim directly in the
liquidation, if you wish to change the bank account details for
payment of your dividends please contact the bank prior to 28 May
2013. Any request for a change in payment details after this
date may result in a delay to the payment of the eighth dividend to
you. The Joint Liquidators will only change a claimant's
payment details upon receipt of an original, signed document -
photocopied, faxed or scanned documents will not be accepted.
As previously advised, dividend levels can only be determined
once cash has been received. We will distribute as much cash
as is available at the point of declaration, which based on cash
currently in hand will be not less than 4p in the £.
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 email@example.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.