Update to creditors, December 2013:-
The joint liquidators advise that they are continuing to seek an appropriate offer of funding in order that the liquidation can be progressed and any potential actions arising from the joint liquidators' investigations can be taken forward. The joint liquidators are in correspondence with a number of parties with regard to funding and are attempting to secure the best possible offer for creditors in the liquidation. The joint liquidators will be reporting the offers of funding to the creditors committee in due course in order to seek their views on the same. Future progress with regard to the funding of the liquidation will be provided to the general body of creditors in subsequent updates. The joint liquidators advise that dividend prospects in this matter remain uncertain and any dividend is reliant on there being sufficient future asset realisations in the liquidation.
A R Limb & P J Windatt