Update - Waterfall II Application (the â Applicationâ ) â Tranches A and B â Supplemental Issues â 14 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 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 timetables, on 13 January 2016, the Senior Creditor Group and Wentworth filed written submissions in respect of Supplemental Issues 1(b) and the Joint Administrators filed written submissions in respect of Supplemental Issues 1(b), 1(c) and 2-5. A copy of these written statements can be found below:

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

The Senior Creditor Group and Wentworth filed written submissions in respect of the remaining Supplemental Issues 1(c), and 2-5, on 22 December 2015.

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