KSF-UK (E&Y) Jun 2012: Update on claims filed by KSF Ltd in Kaupthing hf winding-up proceedings

Category: Newsflash

"The Joint Administrators of KSF advise that they have entered into a settlement agreement with Kaupthing hf (Khf) in respect of the claim filed against Khf as a general unsecured claim in the winding-up proceedings in the amount of £695,308,475.  In accordance with the Settlement Agreement, gross claims amounting to £510,186,976 have been agreed in the amount of £302,163,012.  Components of the claim which could not be resolved at this time, with a gross value of £185,121,499, have been separated from the original claim and issued two new claim references by Khf.  The Joint Administrators of KSF are now working with the Khf Winding-up Committee to settle the remaining components of the KSF claim and are unable to provide any indication of the timing or level of likely recovery in relation to the claims against Khf at this time."

link to KSF-UK site here

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