House of Lords Leave to Appeal


 

TIDM47UI 
 
RNS Number : 3846N 
Sigma Finance Corporation 
16 February 2009 
 

For Immediate Release 
16 February 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"). 
Leave to appeal to the House of Lords granted 
In an announcement dated 4 December 2008, the Receivers notified Beneficiaries 
of the result of the appeals of the English High Court's decision relating to 
the meaning of the closing words of clause 7.6 of the Security Trust Deed heard 
by the Court of Appeal. As outlined in that announcement, the Court of Appeal 
dismissed such appeals and upheld the order (the "Order") made by 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 on or 
before the end of the Realisation Period, in the order in which they fell due. 
Following the Court of Appeal's judgment, the parties whose appeals were 
dismissed filed petitions for leave to appeal to the House of Lords and on 13 
February 2009 the House of Lords granted leave for such parties to appeal. The 
Receivers have not yet been informed of a date for the hearing of these appeals 
by the House of Lords. 
Pending conclusion of such appeals to the House of Lords, the stay over the 
operation of the Order remains in place and the Receivers are not permitted to 
make any distribution to Beneficiaries. 
Beneficiaries should contact the Receivers at the following email address if 
they have any queries about the effect of leave to appeal to the House of Lords 
being granted: sigmafinancecorporation@uk.ey.com. 
The Receivers act as agents of the Company at all times and without personal 
liability. 
Important information 
Please note that nothing in this document is intended to amount to an invitation 
or inducement to engage in investment activity. Nothing in this document amounts 
to the giving of advice. If you are in any doubt about the action you should 
take, you should consult with an investment, legal or other adviser. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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