KSFUK 14th Dividend w/c 7.11.2016

  • Gordon 45
  • 22/10/08 n/a (free)
  • a depositor
  • Offline
Posted: Sun, 18/09/2016 - 18:25

Hi Folks,

Although we are no longer concerned with KSFUK (our then Liquidators sold off the remaining cash due from them to a third party, and that helped pay us out 100% of our claims).

E&Y are now saying they will pay out a 14th Dividend of at least 0.5p/£ to their existing creditors w/c 7.11.2016. they have already paid out 83.75p/£ and are now saying they will pay out at least a further 0.5p/£ on top of that.

This is only an update on their Administration on my part and will not result any any part of that payment going to our Sole Liquidator.

So please, we will not benefit in any way from this pay out as our then Joint Liquidators sold the balance of our claim due from KSFUK to a third party and we benefited from that sale at that point in time. This is purely an update on the KSFUK situation on my part.

Yours,

Gordon 45

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KSFUK have now confirmed a

  • anrigaut
  • 19/10/08 30/10/09
  • a depositor
  • Offline
  • Sat, 15/10/2016 - 15:04

KSFUK have now confirmed a 14th dividend of 0.5 p/£ will be paid on 7 Nov 2016, bringing the total dividend to date to 84.25 p/£:
http://www.kaupthingsingers.co.uk/media/2094/notice_of_fourteenth_divide...

As Gordon has said above, this does not affect KSFIOM depositors. It is however worth noting that the sale - almost two years ago now - of KSFIOM's residual claim against KSFUK meant (according to my calculations) that we effectively recovered around 89 p/£ of our total agreed claim. Looks to have been a pretty good deal! Certainly, without that astute move by our Liquidators, we would still be some way from 100%.