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.

10.07.2009

Kaupthing Singer & Friedlander Limited (in administration) – dissemination and announcements of information – Luxembourg Stock Exchange

In accordance with the Notice of Intended Distribution made on 20 May 2009, the Joint Administrators of Kaupthing Singer & Friedlander Limited (In Administration) ("KSF") intend to make a distribution of 20p in the pound by the end of July 2009 to those creditors of KSF whose proofs of debt have been accepted.

The trustee (the "Trustee") for the £50m bonds listed on the Luxembourg stock exchange with ISIN XS 0179145452 (the "Bonds") has submitted a claim for the full amount of the Bonds including outstanding interest (the "Claim"). However, the Joint Administrators of KSF have received legal advice that, pursuant to the terms of the trust deed dated 13 November 2003 and having regard to UK regulatory capital rules, it is unclear whether the Claim should be admitted and, if the Claim should be admitted, for what amount. The Joint Administrators therefore intend to apply to the High Court for directions. However, on the basis of the legal advice they have received and in accordance with rule 2.81 of the Insolvency Rules 1986, the Joint Administrators consider that it is appropriate to value the Claim at zero, unless the Court directs otherwise.