Update – Waterfall II Application (the "Application") – Parts A & B Appeals - Skeleton Arguments 29 March 2016

On 20 January 2016, the Joint Administrators notified creditors that pursuant to the permission to appeal granted in the Part A Order and Part B Order of Mr Justice David Richards, the respondents had filed Appellant’s Notices and Grounds of Appeal on 13 November 2015, and that the Court of Appeal had ordered an extension to the deadline for the filing of skeleton arguments (that update is available here).

In accordance with the Court of Appeal order dated 4 December 2015, the following skeleton arguments were filed:  

• The Senior Creditor Group and Wentworth’s appellant’s skeleton arguments filed on Monday 1 February 2016; and
• York’s skeleton argument filed on Friday 26 February 2016.

On 18 March 2016, the Civil Appeals Office approved that the Court of Appeal order, dated 4 December 2015, be further varied so that paragraph 5 of the order shall now read:

• The deadline for the submission of the respondent's skeleton arguments (other than that of the administrators) be extended to 20 May 2016; and   
• The deadline for the administrator to file their respondent's skeleton argument be extended to 17 June 2016.  

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