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We refer to our press release 12/50 of 12 December 2012, informing that on 6 December 2012 the Luxembourg administrative tribunal (tribunal administratif) declared the petition (recours administratif) lodged by ARM Asset Backed Securities S.A. (“ARM”) before the Luxembourg administrative first instance court to obtain judicial review of the CSSF’s decision of 29 August 2011 to refuse to grant a license to ARM as a regulated securitisation undertaking under the Luxembourg law of 22 March 2004 on securitisation to be unfounded.
The CSSF informs that on 16 January 2013 ARM lodged an appeal with the administrative court of appeal (Cour administrative) against this judgment. The Luxembourg administrative first instance court's judgment as well as ARM’s appeal referred to...
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