Press release 12/05
Further to the CSSF’s press release 12/05 of 1 February 2012 whereby interested parties were informed of their opportunity to submit written observations until 9 February 2012 close of business in connection with the CSSF’s intention to withdraw LIFEMARK’s licence as a regulated securitisation undertaking under the Luxembourg securitisation law of 22 March 2004 (the “2004 Law”) and in the absence of any new elements having been brought to the CSSF’s attention on such basis, the CSSF herewith informs that on the date of today, it has notified LIFEMARK of its decision to withdraw LIFEMARK’s licence as a regulated securitisation undertaking under the 2004 Law (the “Decision”).
The CSSF’s Decision entails, by operation of law, from the notification thereof to LIFEMARK, a suspension of any payment by LIFEMARK and prohibition for LIFEMARK, under penalty of voidance, to take any measures other than protective measures, unless otherwise authorised by the CSSF acting as supervisory commissioner (“commissaire de surveillance”).
If unchallenged, the Decision will become final one month after its notification. Once the Decision is final, the district court dealing with commercial matters shall, as a consequence thereof, be requested to pronounce the dissolution and order the liquidation of LIFEMARK.