Update – Waterfall II Application (the “Application”) – Tranches A and B – Supplemental Issues – 24 August 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 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.

David Richards LJ has today handed down his approved judgment in respect of the Supplemental Issues numbered 1(b), 1(c) and 2-5. A copy of the judgment is available here.

A Statement of Conclusions, approved by the Judge, is available here.

The remaining Supplemental Issue, numbered 1(a), is being considered by Mr Justice Hildyard, and judgment will be handed down at a later date.

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