| News |
| Second interim Ultimate Distribution |
| |
As of July 1 2009, BFMIC's Payment Percentage increased from 87% to 90%. During July 2009, BFMIC made the resultant second interim Ultimate Distribution payments.
|
| Notice of Substantive Closure Distribution
|
| |
The Liquidators set a Substantive Closure Distribution Payment Percentage of 82% (the previous Payment Percentage was 50%) and subject to the cap of 100% on aggregate Scheme and Adjusting Payments applicable under Clause 3.3.2 of the Scheme of Arrangement, on March 30 2006, BFMIC commenced making the Substantial Closure Distribution Scheme Payments.
|
| Amending Scheme is
effective |
| |
On 18 May 2004 those General and Protected Scheme
Creditors whose claims were admitted for voting purposes unanimously approved
the Amending Scheme, which has subsequently been sanctioned by the Bermudian
and English courts and given full force and effect under US law by a section
304 Order of the US Bankruptcy Court, with an Effective Date of 25 June
2004 and a Bar Date of 29 September 2004.
The latest news on the Amending Scheme can be found under the Home
tab of this website. |
