KSF-UK (E&Y) : Administrators' Progress Report to Creditors April 2012

Category: Newsflash

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

An eighth dividend of 10p/£ is to be paid to unsecured creditors on 2 May 2012.

The Administrators anticipate being in a position to pay a further dividend by late 2012 (quantum and timing unknown) (page 18).

Resolution of KSF-UK's claim against Kaupthing hf is nearing completion and it is expected that the final agreement will be signed in early May.  Until the agreement is finalised,  the Administrators cannot provide any further information in respect of the value of the main claim. (page 15)

The latest estimate of KSFUK final recovery is 81-86 p/£ (page 18).

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