Here you can find general news items from Kaupthing Singer & Friedlander. Press releases and regulatory announcements from the Kaupthing Bank Group can be found under press releases.

14.05.2009

Singer & Friedlander Funding Plc (in administration) Update

TO ALL KNOWN CREDITORS
Singer & Friedlander Funding Plc (in administration)
High Court No.: 9081 of 2008
Registered No.: 05084823
Registered office: 1 More London Place, London SE1 2AF

Singer & Friedlander Funding Plc (in administration) Update to Administrators' Progress Report

"The joint administrators (the Funding Administrators) of Singer & Friedlander Funding Plc (in administration) (Funding) have submitted a claim in the administration of Kaupthing Singer & Friedlander Limited (in administration) (KSF) in respect of a debt owed to Funding by KSF.

The Funding Administrators have received legal advice that, on the basis of current Court of Appeal authority (SSSL Realisations (2002) Ltd v AIG Europe (UK) Ltd [2006] All ER (D) 98), the likely amount to be distributed to Funding by KSF will be zero unless the Court orders otherwise. It is the current intention of the joint administrators of KSF to apply to the Court for directions in respect of the claim submitted by Funding."