11 FEBRUARY 2020
I am pleased to report that I am now in a position to declare and pay the final dividend.
As previously advised, some creditors have had adjustments to the balance admitted for dividend which related to deferred interest. The deferred interest represents the uncapitalised interest earned on accounts at a rate in excess of 5% p.a. for the period from the last contractual interest payment date to 9 October 2008. Under Isle of Man law, dividends cannot be paid in respect of deferred interest until all creditors have been repaid 100% of the amounts due, excluding deferred interest, as at 9 October 2008.
This deferred interest will now be paid in full (if your claim was adjusted), together with an amount for statutory interest at a rate of not less than 1.5p in the £, to non preferential unsecured creditors.
The final dividend will be paid on 31 March 2020.
If your bank account details have changed since the tenth dividend in 2014 and you have NOT previously advised us then please complete and return this form by 29 February 2020.
If you are an Isle of Man taxpayer and have made application under Practice Note 159/09 ‘Taxation of Interest Due from Kaupthing Singer and Friedlander (Isle of Man) Ltd (in Liquidation)’ to defer tax due on interest credited in the past, you should contact the Income Tax Division to regularise your tax affairs and settle any amounts due.
Please note that the liquidator cannot give tax advice to creditors of the bank – it is up to the individuals concerned to take their own advice and make the necessary returns and disclosures to the relevant tax authorities.
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 (please note that this is a new address). 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.