Dividend Payment Process
The Liquidators pay dividends to creditors whose claims have been
agreed and admitted.
The process for paying dividends to creditors who submitted a claim
to the ENGLISH Liquidators is as follows:
- All creditors whose claim is admitted in Luxembourg must have
completed a Declaration of Beneficial Ownership of Funds.
- Close to the time of dividend payment, all
creditors due to receive a dividend are requested to confirm the
address where the dividend cheque should be sent.
- The Liquidators agree a dividend rate - the level of which depends on the funds they hold.
- The Court in Cayman and then Luxembourg approves the dividend payment.
- Dividend cheques are sent out to creditors. High value dividends are paid by telegraphic transfer.
- Creditors who have recently been admitted will receive all dividends due to them in one cheque.
A few months before the dividend date, Payment Instruction
Confirmation letters are sent out to all creditors who are likely to
receive a dividend. No dividend cheques are sent until the creditor has
returned the Payment Instruction form. (A copy of the payment instruction form
can be downloaded from the UK Download Page).
The receipt of this form will not be acknowledged,
however, any amendments to your payment instructions will be confirmed
in writing.