Cash Position

Attached is the summary of cash balances held at 30 September 2018.

Cash balances decreased by approximately £151,000 during the quarter. Interest received totalled £21,000. Dividends paid totalled £114,000. Legal expenses totalled £47,000. Other liquidation expenses totalled £11,000.

Statutory Interest

As previously advised, there will be a hearing at the Isle of Man High Court on 30 October 2018 to consider matters relating to statutory interest. There will be a further announcement on this website once the Court’s judgment has been received. Once the decision of the Court is known, it should also be possible to set out the timetable for the final distribution and the completion of the liquidation.

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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