Ernst & Young LLP 1 Bridgewater Place, Water Lane Leeds LS11 5QR T el: 0113 298 2200 Fax: 0113 298 2201 www.ey.com/uk TO ALL KNOWN CREDITORS 8 April 2013 Ref: RHK/JPS/TRJ/AE/PCF11.1 Direct line: 0113 298 2496 Direct fax: 0113 298 2206 Email:
[email protected] Dear Sirs Republic (UK) Limited and Guild Realisations Limited (formerly Republic (Retail) Limited) - both in Administration (together ‘the Companies’) Further to my appointment as Joint Administrator of the Companies, I attach a copy of my statement of proposals in accordance with paragraph 49 of Schedule B1 to the Insolvency Act 1986. As you will note from the proposals, there is no prospect of any funds becoming available to unsecured creditors of either of the Companies other than by virtue of the prescribed part. As a consequence, I do not propose to summon meetings of creditors. If, however, creditors whose debts amount to at least 10% of total debts of either of the Companies make a request in the prescribed form within 8 business days of these proposals being sent out, a meeting will be held in that company. Copies of the prescribed form (Form 2.21B) are enclosed in case you wish to request a meeting. I would draw your attention to the provisions of Rule 2.37 of the Insolvency Rules 1986 which provide that if a meeting is requested, it will only be held if the expenses of summoning and holding such a meeting are paid by the creditor or creditors making the request and if security is first deposited with me for payment.