Notice of proposed distribution: Sixth Interim Creditor Dividend
Pursuant to Rule 175 of The Investment Bank Special Administration (England and Wales) Rules 2011 (the “Rules”), that the Administrators intend to make a distribution to creditors by way of a sixth interim dividend to MFG UK’s unsecured creditors (the “Sixth Interim Creditor Distribution”).
The Administrators intend to make a distribution to creditors within the period of two months from 29 June 2016, being the last date for proving. The Administrators have recently published on their website an updated illustrative financial outcome statement as at 31 March 2016 which indicates that a further interim dividend of 3p in the £ could be paid to all unsecured creditors whose claims have been admitted for dividend purposes, which would bring the cumulative total to 90.8p in the £. However, the level of the further dividend will not be finalised until after the last date of proving (being 29 June 2016) and all creditors will be notified of the actual amount in due course.
For details as to how to take part in the upcoming distribution, please refer to the notice below.