Update – Announcement of proposed scheme of arrangement, pursuant to Part 26 of the Companies Act 2006, for a full and final settlement in respect of surplus entitlements and the payment of statutory interest – Issue of Claim Form and Witness Statement of Russell Downs dated 2 May 2018

Further to the announcement made on 22 December 2017 a copy of which can be accessed here, and the updates on 29 March 2018, 18 April 2018 and 2 May 2018, the Joint Administrators have today issued the necessary Court documents in order to seek directions from the Court as to the convening and conduct of meetings of LBIE’s “Scheme Creditors” (being substantially all persons with claims provable in the Administration) for the purposes of considering and, if thought fit, approving the proposed scheme of arrangement (the “Scheme”). 

The Claim Form, Draft Order and accompanying Witness Statement can be accessed by following the links on this page. Copies of the PSL, PSL Update Letter, Draft Scheme Document and Draft Explanatory Statement can also be accessed below.

• Claim Form
• Draft Order - to convene scheme meetings
• Witness Statement of Russell Downs
• Draft Scheme Document
• Draft Explanatory Statement
• Practice Statement Letter dated 18 April 2018
• Practice Statement Update Letter dated 2 May 2018

Further updates in respect of the Scheme will be posted to the LBIE website as matters progress.