Full and Final Settlement in respect of the Omnibus Claim 25 June 2015
Following the announcement of the Joint Third Distribution, Third True-up Distribution and Catch Up Distribution from the Omnibus Trust on the 16th March 2015 the Joint Administrators are very pleased to confirm that the final Common Terms Distribution was made on 25th June 2015 which has resulted in a cumulative distribution payment of 110.3494%.
We are especially pleased that the resolution of this Trust Estate was completed within 2 years of receiving the assets and cash from the LBI Portfolio with an estate value of circa $9.5bn. This was a huge effort on the part of everyone involved including our clients who have worked with us to achieve this outcome. This included the liquidation of approx 4,500 Securities with $4.4bn proceeds, $300m from Corporate Actions & Interest and agreement of the withholding tax treatment.
Contact us
Chief Finance and Administrative Officer for Lead Advisory and Restructuring, PwC United Kingdom
Tel: +44 (0)7739 873104
Performance and Restructuring Partner, UK Head of Insolvency, PwC United Kingdom
Tel: +44 (0)7974 332659
