We are pleased to announce that the upgrade of the site, which had become essential for security reasons, is now complete.
Our current expectation for the final outcome for creditors is that it will be in the range of 97.2% to 99%. However, as the potential exists for the outcome to exceed 100%, the Committee of Inspection asked us to outline how interest would be calculated and prioritised should 100% be exceeded.
Now available on the KSFIOM website:
1) cash balances and loan book position at 30 September 2012;
2) minutes of the Committee of Inspection meeting held on 13 July 2012.
Extracts from HM Treasury's report on the failure of KSF (UK):
"As a result of the resolution of a number of significant issues in the administration, including the recent settlement agreement with Kaupthing hf, the Administrators advise that