Cash Position

Attached is the summary of cash balances held at 31 March 2017.

Cash balances increased by approximately £173,000 during the quarter. Loan interest and other income totalled £316,000. Catch-up dividends were £42,000. Other liquidation expenses totalled £101,000.

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Loan Book

Attached is the summary of the loan book position at 31 March 2017.

There was a partial redemption of £257,000 in the loan book during the quarter to March 2017. The loan tables shown have been converted to Sterling using exchange rates as at 31 March 2017.

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Further to my previous updates on this matter, I can confirm that a Court hearing took place as scheduled on Thursday 23 March 2017. The Deemster reserved his judgment and I will post an update on this website as soon as the judgment is issued.


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 . 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