This is an update to clients and creditors following our statement to the clients of MFG-HK on 27 July 2012.
Second Interim Distributions for Qualifying Clients:
The Provisional Liquidators ("PLs") are pleased to report that the PLs have made payments to 59 Qualifying Clients who have met the conditions to receive the Second Interim Distribution.
Qualifying Clients who have yet to return their Statements or other documents necessary to receive the Second Interim Distribution are encouraged to do so promptly.
Matters arising from the first meetings of contributories and creditors of MFG-HK and MFH ("Together the First Meetings"):
The next court hearing for MFG-HK and MFH is set for 11 September 2012. In that hearing, the Court will determine various issues arising from the First Meetings including the formal appointment of Liquidators, the constitution of the Committees of Inspection and the conversion of the liquidations into a Creditors’ Voluntary Liquidation. The PLs and their counsel have been preparing for these hearings and will provide an update after the hearing.
Second Reports of the PLs of MFG-HK and MFH (the "Second Report")
The PLs have issued separate Second Reports in respect of the progress of the liquidations of MFG-HK and MFH. Copies of these reports are being sent to the respective creditors of MFG-HK and MFH (including Qualifying Clients). If you do not receive a copy by the end of next week, please contact us. Recipients are reminded that the reports are confidential and not to be disclosed or distributed to any other party other than the intended recipient.
If you have any questions, please contact Ms Jasmine Lai on +852 2913 2539 or email email@example.com with any enquires.
For and on behalf of MFG-HK (In Liquidation) and MFH (In Liquidation)
Joint and Several Provisional Liquidator
(The Joint and Several Provisional Liquidators act as agents of MFG-HK and MFH without personal liability)