Update - Waterfall II Application (the "Application") - Part C Appeal - 30 January 2017

Following the judgment of Mr Justice Hildyard handed down on 5 October 2016 in respect of Part C of the Application, and pursuant to the order of Mr Justice Hildyard sealed on 16 December 2016 (a copy of the Order can be found here), certain respondents served their respective Appellant’s Notices and Grounds of Appeal, copies of which can be found below: 

• York's Appellant's Notice and Grounds of Appeal filed on 6 January 2017 in respect of Supplemental Issue 1(a); 

• The Senior Creditor Group's Appellant's Notice and Grounds of Appeal sealed on 20 January 2017; and 

• Goldman Sachs International's Appellant's Notice, Grounds of Appeal and their alternative declarations to the High Court order sealed on 23 January 2017.

The Court of Appeal will proceed to arrange a listing date and set a timetable for the appeal hearing relating to Part C of the Application in due course. 

In relation to Supplemental Issue 1(a), York has proposed, and the parties have agreed, that Supplemental Issue 1(a) be heard before the Court of Appeal together with the appeals against the judgments of David Richards J (as he then was) in Parts A and B of the Application and the other supplemental issues, which are currently listed to be heard in the week of 3 April 2017. The Court of Appeal will confirm whether it agrees with this proposal in due course. 

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