English translation of the ruling by the judge in the Reykjavik District Court on the parental guarantee.
Cash position and loan book at 28th February 2011Next dividend
10 MARCH 2011
The ruling has been handed down in the Reykjavik District Court in the case regarding the parental guarantee. The Court has ruled that the parental guarantee is not valid.
I can confirm that the bank's claim in the administration of Kaupthing Singer & Friedlander Limited (in Administration) has been agreed at £246.1m. A catch up dividend of £21.8m has now been received, which brings total receipts in respect of this claim to £130.4m, being 53 pence in the £. There is no further update from the Administrators regarding their estimated outcome, which remains at 75 to 84 pence in the £.