This is an update following our Statement to clients on 24 April 2013.
Interim Distribution Application:
The Liquidators' of MFG-HK are pleased to announce that the Hong Kong Court has today sanctioned the Liquidators' application for the payment of a third interim distribution to Qualifying Clients. The third interim distribution will be approximately $185 million in total, or the equivalent of 15 cents in the dollar for each dollar of current claims to the Client Money as stated in your Statement or, for those clients who have been issued with one, their Amended Statements.
As with earlier interim distributions, Qualifying Clients must meet certain conditions set out in the Order before they can receive payment of a third interim distribution. The Liquidators will contact Qualifying Clients individually with information about these terms and conditions.
The Liquidators are in the process of obtaining the sealed Orders from the Court and seeking consent from the SFC, both of which are required before any payments can be made to Qualifying clients.
The Liquidators should be able to start the interim payment process immediately after they obtain the relevant documents from the Court and the SFC.
For and on behalf of MFG-HK (In Creditors’ Voluntary Liquidation)
Joint and Several Liquidator
(The Joint and Several Liquidators act as agents of MFG-HK without personal liability)