3.8.2005: Meldung: Scottish & Southern Energy PLC: Second Payment from TXU
SSE announced on 3 December 2004 that its subsidiary, SSE Energy Supply Ltd, had agreed a claim of ?294.2m with the administrators, and certain of its subsidiaries, in respect of a 14-year contract originally entered into in 1997. Following approval of the company voluntary agreement on 28 January 2005 the first net distribution of ?159.1m was received on 31 March 2005 from the administrator.
In it"s Preliminary results statement in May 2005, SSE said it expected to receive further distributions of up to ?100m and that over 85% of its agreed claim would be settled. Following this second payment, SSE expects to receive further distributions of up to ?60m by the spring of next year.
Scottish and Southern Energy
Alan Young, Director of Corporate Communications 0870 900 0410
Denis Kerby, Investor and Media Relations Manager 0870 900 0410