Update - Waterfall II Application (the “Application”) – Tranches A and B – Supplemental Issues – 21 January 2016

On 23 December 2015, the Joint Administrators notified creditors that the parties to the Application intended to make further written submissions on a number of issues further to the judgments of Mr Justice David Richards in relation to Tranches A and B of the Application, and pursuant to the consequential issues hearing before the Judge on 9 October 2015 (that update is available here).

In accordance with the agreed timetable, on 20 January 2016, the Senior Creditor Group, Wentworth and York filed the following written reply submissions:

• the Senior Creditors Group's reply written submissions in respect of Supplemental Issue 2;
  
• the Senior Creditors Group's reply written submissions in respect of Supplemental Issue 5;
  
• Wentworth's reply written submissions in respect of Supplemental Issues 1(c), 2, 3 and 5; and
• York's reply written submissions in respect of Supplement Issues 1(b) and 2.
  

The Joint Administrators did not file any reply submissions.

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