Final thoughts on dividends after taking into account JLs July fig + Progress Report

  • Gordon 45
  • 22/10/08 n/a (free)
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Posted: Sun, 14/08/2011 - 21:08

Hi Folks,

Have eventually finished my thoughts on dividends after taking into account the JLs July figures + their 9th July Progress Report.

Not a lot of change, but using more accurate info.

Again on as an attachment in order to keep the format.

Take Care,

Gordon 45

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many thanks gordan

  • thaichris
  • 02/11/08 31/05/09
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  • Fri, 09/09/2011 - 07:21

many thanks for your efforts gordan, most appreciated


Thanks - now where are the JLs?

  • Lostinspace
  • 13/10/08 31/05/09
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  • Mon, 12/09/2011 - 23:59

Gordon,

No idea where we would be without you - excellent, as ever.

Now, where are the JLs? The last posting on the KSF website was an age ago on Aug 12. Surely those long summer holidays are over by now?

Meantime, am I alone in wondering (fearing, really) how the increasingly worsening Eurozone situation will affect the liquidation dividends etc?

LIS


monthly report

  • tsunamivictim
  • 11/10/08 n/a (free)
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  • Tue, 13/09/2011 - 09:28

The JL monthly report I agree does seem to be very late this month.


Maybe they were waiting for this!!!!

  • expat
  • 10/10/08 31/05/09
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  • Mon, 19/09/2011 - 18:54

From The Times 19 Sept 2011
Kaupthing in £1.5bn Tchenguiz settlement

The Tchenguiz Family Trust claimed that Kaupthing had misrepresented its financial position before it collapsed in 2008 Andrew Winning / Reuters

Iceland’s collapsed Kaupthing Bank has settled a £1.5 billion civil court case with the property tycoon Vincent Tchenguiz following months of protracted legal battles in both Britain and Iceland.

Mr Tchenguiz, chairman of Consensus Business Group, said that an agreement had been reached that “was in the interests of all parties” — including the creditors of the failed bank.

The civil case against Kaupthing was brought last year by the Tchenguiz Family Trust and the Euro Group, which are both advised by Mr Tchenguiz.

The trust claimed that Kaupthing had misrepresented its financial position before it collapsed in 2008. It alleged that if the true state of affairs of the bank had been known, it would not have pledged millions of pounds of assets, held in the Euro Group, as security against loans that were seized when the bank was wound up.

While this claim was being heard, Mr Tchenguiz and his brother Robert Tchenguiz were also separately arrested by the Serious Fraud Office, which is conducting an investigation into the events that led to the collapse of the bank.

Both men were released the same day without charges being laid and have initiated judicial review proceedings of their arrests.

Mr Tchenguiz, declined to comment today on the terms of the confidential settlement with Kaupthing, but said: “All the parties have had to take some very public steps in the wake of the collapse of Kaupthing, in 2008, in order to protect their respective legal rights. However, in the meantime, the strength of our asset base and the commercial opportunities available to us have enabled us to work together with Kaupthing to achieve an outcome which benefits everyone.”

The agreement settles all claims brought against the bank both in England and Iceland. However, Mr Tchenguiz’s brother, Robert Tchenguiz, and the Tchenguiz Discretionary Trust which he controls, are still pursuing a separate civil claim against Kaupthing.


To tsunamivictim

  • Gordon 45
  • 22/10/08 n/a (free)
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  • Fri, 16/09/2011 - 08:44

Hi There,

I was begining to get worried to re the late Aug figures posting by JLs. I was on on the 13th also but the posting was not up then. But came back on yesterday to see the Aug data was up and then saw your posting. Tried twice to reply to you but ran out of change both times.

The figures are good, better than I was expecting and although I am not at home and cannot access my files I brought some hard copy stuff. Using that and doing things manually I think the following - The JLs after allowing for balance of liq costs, unresolved & unclaimed I think have around 5.9p/GBP available for payout right now. If they get in around 4.5/5.0m GBP in Sept they could reach 6.4p/GBP thus reaching a total of 80% overall, another milestone reached for all of us. If they wait until they get (at least) 12.305m GBH from KSFUK due w/c 3.10.2011 they would have at least 7.3p/GBH, and if they delay until later in the year they wil, I think have 8.0p/GBP available to give out. So we need to wait their decision on when to pay out.

But things doing really well so far, even allowing for the changing and worsening european situation.

Take care,

Gordon 45


THANKS AS ALWAYS

  • mikepapa
  • 10/10/08 n/a (free)
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  • Tue, 20/09/2011 - 17:41

Dear Gordon,

Many thanks for your update as always - particularly so with the good news.

Kind regards,

Mike


Thank you

  • TykeinSingapore
  • 12/10/08 22/06/09
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  • Tue, 20/09/2011 - 04:59

To echo many other depositors sentiments I would like to thank you for your continued efforts to update us on the return of our money.

Regards,

Tyke


Thank you Gordon

  • jetski
  • 10/10/08 31/05/09
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  • Fri, 16/09/2011 - 14:37

We appreciate your regular updates.


Thank You

  • cande
  • 15/10/08 n/a (free)
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  • Fri, 16/09/2011 - 09:47

Thanks for your update. Seems good news.


Thank you Gordon

  • jenren
  • 10/10/08 31/05/09
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  • Thu, 08/09/2011 - 16:59

Your work is greatly appreciated. All the best from me and my family


Many thanks Gordon, believe

  • onions63
  • 24/10/08 31/05/09
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  • Thu, 08/09/2011 - 12:53

Many thanks Gordon, believe me your hard work is greatly appreciated.


Thanks

  • sunny1
  • 16/10/08 30/05/14
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  • Wed, 07/09/2011 - 16:41

Thank you Gordon, once more.


Dividend

  • ASPEN
  • 13/10/08 31/05/09
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  • Wed, 07/09/2011 - 09:00

Hate calling it a dividend payment but does anyone know the next scheduled release/repayment date of our funds.

Regards, AA


THANK YOU!!!

  • cande
  • 15/10/08 n/a (free)
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  • Tue, 06/09/2011 - 21:59

Thanks again for your all you efforts in keeping the rest of us up to date and informed. It is very much appreciated.


thanks

  • sambururob
  • 10/10/08 n/a (free)
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  • Tue, 16/08/2011 - 08:01

A lot of work Gordon and greatly appreciated.
Best wishes,
Rob and Wendy


Thanks

  • uptight61
  • 14/10/08 n/a (free)
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  • Thu, 08/09/2011 - 17:47

Thank you for your analysis, Gordon.
Let's hope that the Parental Guarantee results in us all getting 100% back + something for our pain and suffering. Some kind of party would then definitely be called for to celebrate the wake of KSF(IOM).