For those noteholders of VAHHA listed notes, I received this today.
Given the large number of creditors and complexity of claims lodged against the Virgin Creditors’ Trust, we are finalising our preparationfor the dividend process and expect to be in a position to call for Formal Proofs of Debt (PODs).
Please note all noteholders are unsecured creditors of the Virgin Group (now Project Volar Creditors’ Trust (theTrust)).
A Circular to Creditors will be sent out shortly outlining the dividend process and key dates for creditors regarding lodgement ofPODs, as well as a likely distribution date (subject to there being no objections by creditors to our adjudication of their claims, which we are required to deal with prior to making a distribution to all creditors).
For various reasons, including differing structures, note documentation, governing law and clearing systems, the claim lodgement proceduresto be followed by Noteholders will vary to other unsecured creditors of the Trust.
The table below sets out key information in relation to the specific claim lodgement procedures applicable to the separate Notes seriesand the action required from these relevant parties in connection with lodging a claim on behalf of their beneficial holders for dividend purposes. The distinct processes are determined by the relevant documents and applicable law.
| Notes | Who will lodge a claim for dividend purposes? | Further comments |
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| 1 | AU$325,000,000 8% notes due 26 November 2024 (ASX: VAHHA) (ISIN: AU0000063455) (Listed AUD Notes) | Certane CT Pty Ltd, formerly known as Sargon CT Pty Ltd (Certane) (the Trustee for the Listed AUD Notes)
| - Certane has lodged a claim on behalf of its beneficial holders.
- Beneficial owners of Listed AUD Notes (Listed AUD Noteholders)are not required to register on the Halo platform or submit PODsto the Trustees. AnyPODs lodged by beneficial owners of the Listed AUD Notes will be rejected for dividend purposes by the Trustees.
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If you have any queries or concerns regarding this process, I would encourage you to contact your relevant note trustee or custodian.
