Today I have sent a letter to unsecured creditors advising them of progress in the process to determine how interest should be calculated in situations where there is a surplus in an insolvency after the proven claims of unsecured creditors have been paid in full.
During the quarter to 30 June 2016, cash balances increased by approximately £1.3 million.
As our liquidation drags slowly towards an end and while waiting for further news, you might enjoy the latest story from Iceland : here !
During the quarter to 31 March 2016, cash balances decreased by approximately £0.4 million. There were no repayments to any of the outstanding facilities.
The Composition Agreement of Kaupthing hf., which was confirmed by the District Court of Reykjavik on 15 December 2015, has as of today’s date, 23 December 2015, become final and binding under Icelandic law.