Update to creditors, April 2014:-
Further to previous updates, the joint liquidators are pleased to report that they have been successful in obtaining two offers of funding in order that the liquidation can be progressed by fully investigating potential legal action with a view to realising funds for the benefit of creditors. The joint liquidators will shortly be convening a meeting of the creditors committee in order to provide the members of the committee with full details of the offers of funding and to seek their instructions in respect of the same. Once the joint liquidators have discussed the offers of funding with the members of the committee and received their instructions in respect of the same, a further update will be posted to this website for the attention of the general body of creditors. The dividend prospects in this matter remain uncertain and any dividend is reliant on there being sufficient future asset realisations in the liquidation to enable a dividend to be declared.
A R Limb & P J Windatt