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Windermere VII CMBS (IRSH)

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Friday 08 April, 2016

Windermere VII CMBS

Notice to Noteholders - Judgment

RNS Number : 6757U
Windermere VII CMBS Plc
08 April 2016
 

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE, INCLUDING AS TO ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER.

 

Notice To Noteholders

 

WINDERMERE VII CMBS PLC

(the Issuer)

 

€145,000,000 Class A1 Commercial Mortgage Backed Notes due 2016

€466,000,000 Class A2 Commercial Mortgage Backed Notes due 2016

€50,000 Class X Commercial Mortgage Backed Notes due 2016

€50,000,000 Class B Commercial Mortgage Backed Notes due 2016

€27,400,000 Class C Commercial Mortgage Backed Notes due 2016

€50,800,000 Class D Commercial Mortgage Backed Notes due 2016

€20,000,000 Class E Commercial Mortgage Backed Notes due 2016

€23,000,000 Class F Commercial Mortgage Backed Notes due 2016

(the Notes)

 

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), together with implementing Commission Directives 2003/124/EC of 22 December 2003, 2003/125/EC of 22 December 2003 and 2004/72/EC of 29 April 2004, as implemented by the relevant member states, require disclosure by or on behalf of the Issuer of any inside information concerning the Notes.

Capitalised terms used but not otherwise defined in this notice shall have the meaning ascribed to them in the Master Definitions Agreement dated 16 May 2006 and made between, amongst others, the Issuer, the Cash Manager and the Note Trustee.

We refer to the notices issued by the Issuer dated 25 November 2015 and 4 March 2016 in which it, respectively, (i) notified Noteholders that a holder of Class X Notes and holder of Class B Notes had commenced proceedings in the English High Court under Part 8 of the Civil Procedure Rules seeking a number of declarations relating to the calculation of the Class X Interest Amount on previous Payment Dates (the Proceedings); and (ii) notified Noteholders of the agreed List of Issues and the five-day window for the expedited trial. The Issuer hereby notifies the Noteholders that judgment was handed down today by Mr Justice Snowden, sitting in the High Court of Justice - Chancery Division.

Noteholders may access the full text of the judgment through the following link: http://www.bailii.org/ew/cases/EWHC/Ch/2016/782.html.

The judgment states, amongst other things, that the Court does not consider that there has been an underpayment of the Class X Interest Amount for the January 2015 or October 2015 Payment Dates, or that any further interest at the Class X Interest Rate would have accrued thereon under Condition 5(i) of the Notes, or that any Note Event of Default has occurred as a consequence.

 

Queries may be addressed to the Issuer as follows:

 

WINDERMERE VII CMBS PLC

c/o Wilmington Trust SP Services (Dublin) Limited

Fourth Floor

3 George's Dock

IFSC

Dublin 1

Ireland

 

Attention:         The Directors

e-mail:              [email protected]

Ref:                  WINDERMERE VII CMBS PLC

 

This Notice is given by the Issuer on 8 April 2016.

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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