Update â Waterfall II Application (the â Applicationâ ) â Consequential Matters Hearing â 9 October 2015

Following the judgments handed down on 31 July 2015 in Parts A and B of the Waterfall II Application, a consequential matters hearing was listed for 9 October 2015. The Joint Administrators have sought the parties’ agreement, to the extent possible, on the various consequential matters flowing from the Judgments. This process has resulted in the parties having reached substantial agreement on some matters although there remain certain points of dispute, including as regards what orders as to costs ought to be made and the Respondents' applications for permission to appeal.

Accordingly, on 8 October 2015, the following skeleton arguments were filed and served ahead of the hearing:

• Skeleton argument of the Joint Administrators;
  
• Skeleton argument of the Senior Creditor Group;
  
• Skeleton argument of Wentworth; and
  
• Skeleton arguments of York.

The parties have engaged a transcriber to produce a transcript of the hearing. The transcript produced today can be found below.

Daily transcript - Friday 9 October 2015

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 amended versions 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.

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