30th November 2009
The Administrators of Kaupthing Singer & Friedlander Limited (in Administration) ("KSF") recently issued a notice to creditors advising that they intend to make a second interim distribution to unsecured creditors. We understand that the distribution is expected to be paid in or around December 2009 and creditors must submit their claims to the Administrators by the date specified in the notice.
KSF customers who submit a claim in the administration will still be able to make a claim for compensation to the FSCS (assuming they have not already done so). However, the FSCS will take into account any dividend received by KSF customers from the administration when calculating the amount of compensation (including any element representing interest) payable to customers that are eligible under FSCS rules.
KSF customers who have already been paid compensation by the FSCS will not be entitled to any dividend payments from the administration as their claims were paid in full and their rights were assigned or transferred in their entirety to the FSCS.
Further information for creditors of KSF can be found on the KSF website (www.kaupthingsingers.co.uk).