Update - Waterfall II Parts A & B Application – Applications for Permission to Appeal to the Supreme Court of the United Kingdom – 27 November 2017

On 24 October 2017, 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. 

Following the handing down of the Waterfall II Court of Appeal judgment, an Order was subsequently sealed by the Court of Appeal on 6 November 2017.  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.   

Consequently, the parties have filed the following Notices of Appeal seeking permission to appeal to the Supreme Court:  

• York’s Notice dated 21 November 2017 is available here;
• the Senior Creditor Group’s Notice dated 21 November 2017 is available here; and
• Wentworth’s Notice dated 20 November 2017 is available here.

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