Update - Waterfall II Application - Parts A & B – Court of Appeal Order (the "Order") – 17 November 2017

On 24 October 2017, the Joint Administrators notified creditors that the Court of Appeal had handed down its judgment in respect of the appeals of various issues across Waterfall II Parts A & B, following the hearing of 3 – 12 April 2017 and the supplemental hearing on 25 July 2017.  A copy of the Joint Administrators’ previous announcements in relation to the Waterfall II A and B appeals can be found here.

Following the handing down of the Waterfall II Court of Appeal judgment, an Order was subsequently sealed by Lady Justice Gloster, Lord Justice Briggs and Lord Justice Patten on 6 November 2017.  A copy of the Court of Appeal's Order is available here. The order refuses all applications for permission to appeal to the Supreme Court, such that the parties must now apply directly to the Supreme Court should they wish to appeal the issues. 

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