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LONDON - Linklease Finance PLC, a company incorporated in England and Wales, is facing liquidation proceedings, and the note trustee has alerted holders of the Series 2022-LL4 notes issued on December 15, 2022, with ISIN: GB00BPLKP206, of the need for their direction on the enforcement of securities. The note trustee has not received any instructions from noteholders since a previous announcement on November 19, 2024, which outlined the ongoing issues between Linklease Finance and the borrowers of the notes.
Quantuma Advisory Limited has notified the note trustee that a creditors’ meeting is scheduled for June 3, 2025, to discuss the voluntary liquidation of the issuer. The note trustee has requested to attend the meeting virtually and is awaiting dial-in details from Quantuma.
Noteholders have the right to instruct the note trustee to declare the notes due and payable immediately by providing written notice if an Event of Default is ongoing. This action requires the note trustee to be indemnified and/or secured and/or prefunded to its satisfaction. The note trustee has communicated that it will not take further action without the request or direction of the noteholders, including indemnification.
The note trustee has also incurred costs while attempting to assist noteholders by responding to queries and facilitating discussion. However, given the impending liquidation, the note trustee has stated it is unlikely to recover amounts due by the issuer and cannot proceed without indemnification and prefunding.
Noteholders are reminded to verify their holdings and provide proof when contacting the note trustee, and those who hold notes beneficially through CREST may need to have their notes blocked in the system. The note trustee has emphasized that it does not provide legal or investment advice and recommends noteholders seek independent professional advice.
This news is based on a press release statement and aims to inform noteholders of the necessary steps to protect their interests in light of the issuer’s financial difficulties and potential liquidation.
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