A City investment company has said that a $30bn(£15.2bn) structured
investment vehicle (SIV) is still solvent after concerns were raised by
creditors of the vehicle.
Gordian Knot took steps to defend itself after reports emerged that Deloitte
had been called in by Sigma Financial investors worried about recovering their
‘Sigma is solvent and both senior debt and capital notes of Sigma continue to
be paid in full and on a timely basis,’ Gordian Knot said on
Gordian said that $2.95bn of debt is due to be repayed to creditors on 30
September and also remained confident that its accounting procedures for the
SIV were up to standard.
‘Gordian continues to provide detailed disclosure on Sigma in the form of its
annual and quarterly accounts. Annual accounts for the financial year ended 30
April 2008 are being prepared currently,’ the investment company added.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children