Final Client Money Distribution: Pursuant to Rule 6 of the client money distribution procedure prescribed by the Court Order dated 11 June 2013, the Administrators have issued a notice that they intend to make a final distribution of client money to clients of MFGUK. The Court Order (PDF 111 KB) can be viewed or downloaded.
Fourth Interim Creditor Distribution: Pursuant to Rule 175 of The Investment Bank Special Administration (England and Wales) Rules 2011, the Administrators have also issued a notice that the Administrators intend to make a distribution to creditors by way of a fourth interim dividend to MFGUK’s preferential creditors (if any) and unsecured creditors.
The Administrators’ notices to all known creditors and clients and to the Financial Conduct Authority (PDF 76.9 KB) can be viewed or downloaded.
The Administrators intend to make the distributions within the period of two months from 10 October 2014, being the last date for proving. The Administrators will notify all creditors of the level of the Final Client Money Distribution and the Fourth Interim Creditor Distribution in due course.
For details as to how to take part in the upcoming distributions and the consequences of missing the distributions, please refer to the notices.
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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.