To all Claim Buyers,

Please see enclosed a copy of the New Acknowledgement Form to be used going forward for all claim transfers.
We take this opportunity to clarify that this is the only format of acknowledgement which will be accepted going forward and also to confirm our new standardised process in respect of distribution declaration.

Distribution Payees
Going forward distributions will be paid to the owner on record at the date of announcement of the distribution. The distribution will first be announced on our website: http://sibliquidation.com/.

Preference settlements
Following repayment, held back distributions will be recalculated against the Revised Claim Amount and released to the owner of the claim on record as at the date the Preference Payment is settled. Subsequent distributions will be calculated with reference to the Revised Claim Amount and paid to the owner of the claim on record as at the date each distribution is announced.

Submission of Deeds
There Registration and Records Act (Cap. 375) provides a deadline of 3 months between execution of the deed and registration with the Antiguan and Barbudian Deeds Registry. Once registered, it is the responsibility of the claim buyer to send a copy of the registered deed to the Joint Liquidators as soon as possible to ensure distributions are sent to the legal holder of the claim.

Transfer Fee
To cover the administration costs of the claim transfer there is a fee of US$1000 per claim transfer (per PEA). To clarify, bundling PEAs into one deed or processing several at a time still means that a cover fee per PEA will need to be paid to the Joint Liquidators.

Bank Account
All payments are to be made to our account held at Bank of Nova Scotia: 60335000004909

Beverly Jacob – your Account Manager
Beverly Jacobs (cc’d) will be the new point of contact for all claim transfers. Mrs. Jacob has been working alongside us since the beginning of the liquidation and has an excellent understanding of the mechanics of the claim transfers being responsible for maintaining the claims database paperwork. Mrs. Jacob’s email is Beverly.jacob@uk.gt.com.

Your Sincerely,

Mark McDonald
Joint Liquidator of Stanford International Bank (in Liquidation)