During December 2014, one facility was redeemed in part realising approximately £18,000. Cash balances decreased by approximately £1.1 million during the month, largely due to liquidation expenses.
Today, Kaupthing‘s Winding-up Committee, its advisers and creditors‘ advisers together with the Winding-up Committee of Glitnir and LBI met with representatives of the Government and its advisers.
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 £