Update â Waterfall II Application (the â Applicationâ ) â Skeleton Arguments for the Pre-Trial Review â 9 October 2015

Pursuant to paragraph 35 of the order of Mr Justice David Richards following the case management conference held on 9 March 2015 (the “Order”) (available here), and in respect of Tranche C of the Application, a pre-trial review (the “PTR”) was held in respect of the Application on 9 October 2015. The purpose of the PTR was to deal with issues concerning the procedural management of Part C of the Application going forward. The following skeleton arguments were filed in advance of the PTR:

• Skeleton argument of the Joint Administrators;
• Skeleton argument of the Senior Creditor Group;
• Skeleton argument of Wentworth; and
• Skeleton argument of Goldman Sachs International.

The parties engaged a transcriber to produce a transcript of the hearing. The transcript produced today can be found below.

Please note that:

• the transcript is published in the form received from the transcriber (i.e. prior to review by any party to the Application and without corrections);
• the parties reserve the right to post amended versions of the transcript should they consider it necessary, but accept no responsibility for doing so; and
• the LBIE administrators are posting such transcript solely for the convenience of interested third parties and neither they nor any other party to the Application makes any representation as to the accuracy of such transcript nor accepts any responsibility for any inaccuracies contained within it.

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