Announcement by Receivers

 

TIDM47UI 
 
RNS Number : 9434P 
Sigma Finance Corporation 
01 April 2009 
 

For Immediate Release 
1 April 2009 
COMPANY ANNOUNCEMENT 
 SIGMA FINANCE CORPORATION (IN RECEIVERSHIP) 
The receivers of Sigma Finance Corporation (in Receivership) (the "Company"), 
being A. R. Bloom, M. E. Mills and S. J. Harris each of Ernst & Young LLP (the 
"Receivers") have today made the following announcement. 
Capitalised terms used and not otherwise defined herein have the meanings given 
to them in the Amended and Restated Security Trust Deed dated 27 March 2003 (the 
"Security Trust Deed"). 
Court Applications - Background 
The Receivers have previously made an announcement regarding the Court of 
Appeal's decision in relation to the meaning of the closing words of Clause 7.6 
of the Security Trust Deed. As outlined previously and in summary, the Court of 
Appeal dismissed the appeals by Party B, Party C and Party D and upheld the 
order of the High Court requiring the Receivers to apply the Assets and/or 
proceeds of realisation thereof to discharge the Short Term Liabilities falling 
due for payment during the Realisation Period, in the order in which they fell 
due. 
On 16 February 2009 the Receivers announced that the House of Lords had granted 
leave to Party B, Party C and Party D to appeal the Court of Appeal's decision. 
Hearing date set for appeal to House of Lords 
The Receivers have now been informed that the appeals filed by Party B, Party C 
and Party D have been listed for hearing before the House of Lords on 1 and 2 
July 2009. 
The Receivers will make a further announcement once a decision has been handed 
down by the House of Lords. 
The Receivers act as agents of the Company at all times and without personal 
liability. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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