Update – Waterfall II Application (the “Application”) – Tranches A and B – Supplemental Issues - Sealed Order – 21 October 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.  

On 24 August 2016 David Richards LJ 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.  

The order subsequently made by Lord Justice David Richards pursuant to the judgment can be found here. 

Permission to appeal has been granted in respect of the declarations in paragraphs 3, 4, 5 and 6 in the order. 

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