Update – Waterfall II Application (the “Application”) – Third Case Management Conference and related Directions Order – Supplemental Position Paper in relation to the Third Tranche hearing – 7 May 2015

On 9 March 2015 a case management conference (the “CMC”) was held before Mr Justice David Richards in respect of the Application. The purpose of the CMC was to deal with issues concerning the procedural management of the Application going forward. On 10 March 2015, the Joint Administrators posted an update in relation to the CMC, together with the transcript of that CMC. On 9 April 2015, the Joint Administrators posted copies of the skeleton arguments filed by the parties in advance of the CMC.

Further to the CMC, the parties have agreed, and the Judge has approved, a directions order (the “Order”). A copy of the Order can be found here.

Wentworth has filed the following supplemental position paper on Issues 11 to 13 of the Application (which, together with other Issues in the Application, have been amended and are now in the form that appears in Schedule A to the Order):

• Wentworths' supplemental position paper on Issues 11 to 13

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