Attached is the summary of cash balances held at 30 September
Cash balances decreased by approximately £19.3 million during
the month. Other income was approximately £8,000. The ninth
dividend distribution was approximately £19.3 million. Liquidation
expenses were approximately £20,000.
Attached is the summary of the loan book position at 30
During September 2014, no facilities were redeemed.
The loan tables shown have been converted to Sterling using
exchange rates as at 30 September 2014.
Sale of claim in the administration of
Subsequent to the month end, the company's claim in the
administration of KSFUK has been sold to a third party, realising
cash proceeds of £18.4m.
It is expected that a dividend of 2p in the £ will be
declared and paid on 28 November 2014. This will bring cumulative
dividends to 100p in the £.
A notice for the next dividend will be published in
the press and sent to all known creditors who have not yet
submitted a claim shortly. In accordance with the notice, 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
November 2014 in order to be included in the tenth 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 21
November 2014. Any request for a change in payment details after
this date may result in a delay to the payment of the tenth
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
Calculation of interest payments to creditors will be
dealt with in a future website update.
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.