Update - Waterfall II Application (the “Application”) - The Joint Administrators' Position Paper and Witness Statement in relation to the Third Tranche hearing - 21 August 2015

Pursuant to paragraph 5 of the Order of Mr Justice David Richards sealed on 26 June 2015, the Joint Administrators have filed a supplemental position paper in reply to that filed by Goldman Sachs International dated 23 July 2015 and Wentworth dated 14 August 2015, on issues 11 to 14 and 27 in the Application.

The Joint Administrators' reply position paper dated 20 August 2015, on issues 11, 12 and 13 can be found here.

On 20 August 2015, consistent with the Joint Administrators' approach in endeavouring to provide the Court with the benefit of all sensible arguments on the issues, the Joint Administrators also filed the Twelfth Witness Statement of Anthony Victor Lomas and its Exhibit in support of their position paper of the same date. The Joint Administrators consider it to be appropriate for the Court to have the benefit of the evidence set out in this Witness Statement and its Exhibit, a copy of which can be found below:

The Twelfth Witness Statement of Anthony Victor Lomas and Exhibit AVL12.

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