KSF-UK (E&Y) : Administrators' Progress Report to Creditors October 2011

Category: Newsflash

The 6-monthly report to creditors of KSFUK is now available on the KSFUK website here.  Key points for KSFIOM depositors include:

The next KSFUK dividend is expected to be paid in March/April 2012 , amount unknown (page 2, table).

KSF-UK's claim against Kaupthing hf is still under negotiation with the winding-up Committee (WuC) which hopes to finalise matters by the end of this year.  It is understood that the value of Khf‟s assets are expected to exceed the level of priority claims agreed by the Winding-up Committee or subject to dispute, but the WuC is currently unable to provide an estimate of the likely recovery for creditors or provide a timeline for a return to creditors. (page 11)

The  current estimate of KSFUK final recovery is 79-86 p/£(page 13).

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