Note to creditors of KSFIOM: This is posted here for information only. Following the recent sale to a third party of KSFIOM's residual claim against KSF-UK, KSF-UK dividends no longer affect the outcome for creditors of KSFIOM.
Summaries of cash balances held and the loan book position at 31 Oct are available on the KSFIOM website.
Cash balances increased by approximately £18.4 million during the month. Cash received from the sale of the KSFUK claim was approximately £18.46 million. No loans were redeemed in October.
The Administrators of KSF-UK have announced their intention to declare and pay a 12th dividend of not less than 1p in the £ on 10 December 2014.
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 £.
Calculation of interest payments to creditors will be dealt with in a future website update.
For more details and summaries of cash balances held and the loan book position at 30 Sep see the KSFIOM website.
The Interim Financial Statements for the period 1 January to 30 June 2014 have been published. Furthermore, a Supplementary Material to the Financial Statements has been published and contains updated overview of claims in addition to further analysis on each asset class. Available for download here.
Highlights at 9 July 2014
- 95.8p in the £ dividends paid to creditors
- £910.5m of assets recovered
- 92.1% of loan book recovered
- Estimated dividend outcome between 99.0p and 99.6p in the £