A claim on the MCC group's Fidelity Insurance Policy has been settled out of Court at $59m, plus some further small recoveries to come from insolvent members of the insurance panel.Various claims against Maxwell Private companies have also been resolved in an overall settlement, subject to various Court approvals. This settlement releases $51m from escrow accounts and reserves for disputes between the parties, and agrees claims by MCC on which a further $57m of dividends is expected from the Private Side companies over time as their affairs are resolved.Contested claims remain against the private companies for the return of certain dividends paid to them by MCC.These two settlements will enable the Administrators of MCC to pay a ninth dividend of 3.5%, bringing total distributions to 56%.The Fidelity Insurance settlement adds a further 2% to the latest estimate of the eventual total dividend bringing it to 61% to 62% plus the proceeds of a certain amount of further litigation.The dividend is expected to be paid in December or January, subject to the timing of the necessary Court approvals.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago