To Creditors,
We refer to previous communications.
All parties to the mediation have agreed to meet on Thursday 19th February 2009 and we will report the outcome shortly thereafter.
If a position is reached that we feel has commercial merit, we would then convene a meeting of the Committee of Creditors to discuss any proposal in detail before providing creditors with a detailed report setting out the legal and commercial ramifications and all options available going forward. Any proposal received will be presented to creditors in a formal meeting for consideration.
Whilst it is regrettable that there have been delays in bringing this to a conclusion, we wish to assure creditors that all parties to the mediation continue to make a concerted effort to present creditors with an alternative to ongoing litigation.
Yours faithfully
JOHN LINDHOLM
LIQUIDATOR
Seems it is by no means as definite as previously thought.
The wait continues..
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