Notice Chapel 2007 B.V.
THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.
CHAPEL 2007 B.V.
(the "Issuer")
Notice is hereby given with respect to holders of notes (the "Noteholders") of each of the following class(es):
€ 321,000,000 Senior Class A1 Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN: XS0287346976
€ 300,000,000 Senior Class A2 Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN: XS0291271319
€ 13,800,000 Senior Class B Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN XS0287349566
€ 23,500,000 Mezzanine Class C Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN XS0287351463
€ 17,900,000 Mezzanine Class D Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN XS0287352198
€ 13,800,000 Junior Class E Asset-Backed Notes 2007 due 2066, issue price 100 per cent. ISIN XS0287352511
€ 13,800,000 Subordinated Class F Notes 2007 due 2066, issue price 100 per cent. ISIN XS0290510626
€ 6,900,000 Subordinated Class G Notes 2007 due 2066, issue price 100 per cent. ISIN XS0290516409
(the "Notes")
Amsterdam, 16 October 2010
NOTICE:
The Notes are backed by certain loan receivables originated by DSB Bank N.V. ("DSB"). DSB was declared bankrupt on 19 October 2009. The supervisory judge (rechter-commissaris) in the bankruptcy of DSB has scheduled a claims admission meeting (verificatievergadering) in this bankruptcy on 10 December 2010.
In anticipation of this meeting, we hereby notify you that Stichting Security Trustee Chapel 2007 (the "Security Trustee") intends to convene at the request of the Issuer a meeting of Noteholders of all classes of Notes scheduled to be held 18 November 2010, subject to change (collectively, the "Informative Meeting"). At the Informative Meetings (inter alia) information will be given with respect to:
1. the status and developments since the bankruptcy of DSB;
2. the filing by the Issuer of claims -if any- which the Issuer may have in the bankruptcy of DSB; and
3. the alleged duty of care claims against DSB by the borrowers of the loan receivables sold and assigned by DSB to the Issuer and the consequences of these claims and the bankruptcy of DSB for the Notes and the Noteholders.
Furthermore, the Security Trustee intends to convene at the request of the Issuer a meeting of Noteholders of each class of Notes scheduled to be held 7 December 2010, subject to change, during which certain extraordinary resolutions in connection with item 3 will be submitted for adoption (collectively, the "Noteholders Meetings").
In connection with the aforementioned, the Security Trustee kindly requests the Noteholders to disclose their identity, preferably before 22 October 2010, by which disclosure any such Noteholder consents to disclosure of such identity details by the Security Trustee to the Issuer and/or the bankruptcy receivers of DSB. The Royal Bank of Scotland N.V. (“RBS”) will act as agent in respect of this disclosure request (the “Agent”).
Noteholders are requested to submit or procure to submit a blocking instruction to RBS through Euroclear or Clearstream, Luxembourg by no later than 17.00 hours CET on 21 October 2010, all in accordance with any disclosure request procedures of Euroclear or Clearstream, Luxembourg. Such blocking instruction should contain details of the relevant nominal amount of each class of Notes held and all relevant details of the beneficial owner (including full contact details) holding such nominal amount of each class of Notes. As of 22 October 2010 the relevant nominal amount of each class of Notes, for which an instruction has been submitted, will be unblocked.
Contact details of the Agent:
The Royal Bank of Scotland N.V.
Tel. +31 20 464 3707
Fax: + 31 20 464 1707
Email: corporate.actions@rbs.com
This notice does not purport to be the formal announcement of the Informative Meeting and the Noteholders Meetings. Such announcements will follow in due course and will contain details for Noteholders in order to obtain the documents in relation thereto.
Amsterdamsch Trustee's Kantoor B.V.
Director
Fred. Roeskestraat 123
1076 EE Amsterdam, the Netherlands
Stichting Security Trustee Chapel 2007 (the "Security Trustee") intends to convene at the request of the Issuer a meeting of Noteholders of all classes of Notes scheduled to be held 18 November 2010.
