Update – Waterfall II Application (the “Application”) – Pre-Trial Review and related Directions Order - 23 April 2015

Pursuant to the Order of Mr Justice David Richards dated 21 November 2014, a pre-trial review (the “PTR”) was held in respect of the Application on 21 April 2015. The purpose of the PTR was to deal with issues concerning the procedural management of the Application going forward. In particular, with respect to the hearing of the second tranche of issues in the Application.

Further to the PTR, the parties have agreed, and the Judge has approved, a directions order (the "Order").  A copy of the sealed Order can be found here:

The parties engaged a transcriber to produce a transcript of the PTR. The PTR transcript can be found below. Please note that:

• the transcript is published in the form received from the transcriber (i.e. prior to review by any party to the Application and without corrections);
• the parties reserve the right to post an amended version of the transcript should they consider it necessary, but accept no responsibility for doing so; and
• the LBIE administrators are posting such transcript solely for the convenience of interested third parties and neither they nor any other party to the Application makes any representation as to the accuracy of such transcript nor accepts any responsibility for any inaccuracies contained within it.

PTR Transcript – Tuesday 21 April 2015:

Should you have any queries regarding this update, please contact LBIE’s Communications and Counterparty Management team at generalqueries@lbia-eu.com.