Iconic Labs PLC NOTICE OF APPROVAL OF ADMINISTRATORS' PROPOSALS (7862J)
August 25 2021 - 8:44AM
UK Regulatory
TIDMICON
RNS Number : 7862J
Iconic Labs PLC
25 August 2021
NOTICE OF APPROVAL OF JOINT ADMINISTRATORS' PROPOSALS
"The Joint Administrators are pleased to announce that at a
meeting held on 17 August 2021, creditors of the Company agreed
their Proposals, with modifications
The Administrators' Proposals make reference to claims that the
Company may have against various parties and associated
counter-claims.
The Joint Administrators do not currently know whether the
potential claims previously publicised by the directors or
counter-claims have any merit, or if they have merit, whether if
successful the claims would entitle the Company to recover any or
any material damages. The Joint Administrators also note for the
record, that whilst the Company had issued letters to a number of
parties threatening to issue proceedings, they are not aware of any
proceedings which had actually been commenced.
The Joint Administrators have instructed their legal advisers to
review these letters and investigate the underlying facts with a
view to advising the Joint Administrators on how to proceed. As
part of this they will also review whether there are any other
persons against whom the Company may have a valid and valuable
claim, but there can be no assurance at this stage that any such
claims exist or that there will be any merit or value in the
potential claims referred to earlier."
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