Following on from the First and Second Interim Client Money Distributions in April 2013 and June 2014, the Joint Administrators are pleased to announce that they intend to make a Third Interim Client Money Distribution in early August 2018. The Joint Administrators expect that this distribution will take the cumulative dividend rate declared and paid to 100%.
Action required
In order to ensure that all eligible beneficiaries have the opportunity to participate in the Third Interim Client Money Distribution, the Joint Administrators request:
A number of clients who would otherwise be client money claimants have executed agreements (including the Small Claims Settlement Offer) with LBIE in which they have assigned or waived their entitlements to client money, or have abandoned their client money entitlements. Those clients no longer have client money entitlements and (for the avoidance of doubt) are not required to take any further action.
Queries
If you have any questions with regard to this update please contact the Communications and Counterparty Management Team by emailing clientpositionresponses@lbia-eu.com.
Restructuring and Insolvency Partner, UK Head of Insolvency, PwC United Kingdom
Tel: +44 (0)7974 332659