Generic Links

 

Welcome to RL360°'s

dedicated financial adviser website

For financial advisers only

Not to be distributed to, or relied on by, retail clients

Online Services Secure online services

Sign in | Register

Kaupthing Singer & Friedlander Isle of Man Tenth Liquidation Distribution

KSF (IoM) has announced a further liquidation distribution of 2p in the pound. This takes total distributions to 100%.

Impacts on
these products

  • PIMS
  • Choice (Closed)
  • Select (Closed)

Further to the ninth liquidation payment made on 5 September 2014, a tenth distribution of 2 pence in the pound was made on 28 November 2014. This has brought the total distributions to 100 pence in the pound.


The liquidators had originally estimated that the total recoveries would be in the region of between 82.88% and 93.76%. So with distributions now standing at 100% (inclusive of 5% interest) this is a pleasing resolution to a difficult and long running situation.


This payment is likely to conclude the liquidation distributions, however, if we do receive any further distributions these will be applied proportionally amongst affected policyholders. For the latest information please refer to the liquidators website at www.kaupthingsingers.co.im


Letters confirming the amounts payable on individual policies have been despatched to advisers and clients by post.

Sample letters