On July 2nd, 2010 the Credit Derivatives Determinations Committee for EMEA resolved that a Bankruptcy Credit Event occurred in respect of Truvo Subsidiary Corp. and that an auction would be held. This page contains details of the DC Resolutions, auction documentation and other items relating to the auction for Truvo Subsidiary Corp.
Further documentation relating to the auction will be added as it becomes available.
Event Publicly Available Information:
| Auction Timeline: | http://www.cdsdeterminationscommittees.org/companies/ISDACreditAuctionTimeline.pdf |
| List of Participating Bidders: | List of Participating Bidders |
| Deliverable Obligations: | Final List
Please note that any portion of the Deliverable Obligations on the Final List which (i) are subject to the Plan Support Agreement dated as of 29 June 2010 between, inter alia, Truvo Subsidiary Corp. and certain of its creditors and (ii) cannot be transferred in accordance with the Plan Support Agreement, CANNOT be delivered in settlement of a RAST and will be deemed not to appear on the Final List for those purposes. For the avoidance of doubt, any portion of such Deliverable Obligations which are not subject to the Plan Support Agreement will be unaffected. Transferees under a RAST are not obliged to adhere to the Plan Support Agreement. We draw all parties' attention to the representations that are deemed to be given pursuant to Section 9.2(a) of the 2003 ISDA Credit Derivatives Definitions by a transferor under a RAST to a transferee under a RAST with respect to obligations transferred. In respect of (ii) above, potential transferees under a RAST should further note that, notwithstanding compliance with all other transfer requirements of the Plan Support Agreement, obligations that are subject to the Plan Support Agreement cannot be transferred in accordance with the Plan Support Agreement if the potential transferor under a RAST did not disclose to, among others, Truvo Subsidiary Corp., by delivery of information required under Schedule III of the Plan Support Agreement, all Auction Covered Transactions that it was a party to as of 29 June 2010. |
| Final Auction Terms: | Truvo Subsidiary Corp. Auction Settlement Terms Blackline against Hellas Telecommunications (Luxembourg) II Auction Settlement Terms
For the avoidance of doubt, please note that the amendments shown in the attached blackline reflect refinements made to the form of Auction Settlement Terms in Auctions in the Americas and Japan Regions which were more recent than the Hellas Auction. Only the Supplemental Auction Terms contained in Schedule 1 of the Truvo Subsidiary Corp. Auction Settlement Terms are specific to this Auction and pursuant to Section 3.2 b (iii) of the DC Rules required the votes of Dealer Voting Members only (please see EMEA Determinations Committee Decisions). |
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