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.

18.02.2010

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

The Joint Administrators of Kaupthing Singer & Friedlander Limited (in administration) ("KSF" and the "KSF Administrators") have announced on 18 February 2010 that they intend to make a third interim dividend to non-preferential creditors within 2 months of 19 March 2010. The notice does not state an estimate of the level of the dividend.

The Joint Administrators of Singer & Friedlander Funding Plc (in administration) (“Funding” and the “Funding Administrators”) are aware that the Trustee of the £250m guaranteed floating rate notes of Funding (the "Notes") submitted a proof of debt to KSF as guarantor of the Notes which was approved by the KSF Administrators.

As previously announced on 18 December 2009, Funding’s claim (the "Claim") against KSF in respect of a debt owed to Funding by KSF has not been approved and the Funding Administrators have been advised by their legal advisers that, on the basis of a High Court judgment issued on 18 December 2009 (the “Judgment”), Funding will not receive a dividend in respect of the Claim.

The Funding Administrators understand that the Trustee has sought permission from the Supreme Court Appeals Panel to make a “leapfrog” appeal to the Supreme Court in respect of the Judgment. If the Appeals Panel do not grant permission, the Trustee may still be eligible to seek leave to appeal to the Court of Appeal.”

 Signed Notice of Intended Dividend to Creditors