The Fund has made an interim distribution to admitted Ordinary Creditors and admitted Redemption Creditors (defined in the FAQ) in respect of their principal claims. For further details, kindly refer to the stakeholder reports.
A recent ruling by the Grand Court of the Cayman Islands (Grand Court) has clarified the position in relation to payment of statutory interest on the above claims. The liquidators are currently considering the implications of that ruling for the Fund’s estate and future distributions.
At this stage, primarily due to uncertainty as to the amount of further recoveries and ongoing litigation in relation to the method and manner in which the Fund will be required to make distributions to investors, the liquidators are unable to advise as to the timing, or prospects, of making a distribution to the Fund’s Equity Claimants (i.e. investors with claims in respect of their unredeemed shareholding in the Fund). Equity Claimants will be updated as and when the position becomes clearer.