For immediate release

To: Irish Stock Exchange

Date: 17 August 2012

 

Cornerstone Titan 2006-1 p.l.c. (the "Issuer")

 

Class A Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262023459

ISIN (Rule 144A Notes) XS0262026718

 

Class X Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262023707

ISIN (Rule 144A Notes) XS0262027013

 

Class B Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262023962

ISIN (Rule 144A Notes) XS0262027286

 

Class C Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262024184

ISIN (Rule 144A Notes) XS0262027526

 

Class D Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262024424

ISIN (Rule 144A Notes) XS0262027955

 

Class E Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262025157

ISIN (Rule 144A Notes) XS0262028177

 

Class F Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262025405

ISIN (Rule 144A Notes) XS0262028334

 

Class G Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262025744

ISIN (Rule 144A Notes) XS0262028680

 

Class H Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262026551

ISIN (Rule 144A Notes) XS0262029068

 

Class J Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262027104

ISIN (Rule 144A Notes) XS0262029498

 

ClassVA Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262027799

ISIN (Rule 144A Notes) XS0262029811

 

Class VB Secured Floating Rate Notes due 2015

ISIN (Regulation S Notes) XS0262028508

ISIN (Rule 144A Notes) XS0262029902

 

being together, the "Notes"

 

The Notes are admitted to trading on the regulated market of the Irish Stock Exchange

Limited.

 

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on

insider dealing and market manipulation together with Implementing Directive 2003/12/EC

as implemented by the relevant member states requires disclosure of inside information

relating to the Issuer.

 

Capitalised terms used but not defined in this notice shall have the meaning given to them in  the servicing agreement dated 31 July 2006 between, among others, (1) the Issuer, (2) Capita Asset Services (Ireland) Limited (formerly known as Capmark Services Ireland Limited) and (3) Capita Asset Services (UK) Limited (formerly known as Capmark Services UK Limited) (the "Servicing Agreement"). 

We refer to the RIS notification published on the website of the Irish Stock Exchange on 9 May 2012 in connection with the Woolgate Exchange Whole Loan.

By way of further update, we hereby notify you of the following:

1         That Zweite IFE geschlossenerImmobilienfondsfür England GmbH & Co KG the borrower (the "Borrower") under the Woolgate Exchange Whole Loan was organised as a limited partnership under the law of Germany (the "Limited Partnership").

2         The Special Servicer has been notified by the Limited Partnership that its two limited partners,1) Deirdre Foley (the "Retiring Limited Partner") and 2) Woolgate Exchange S.A. (the "Remaining Limited Partner") together with its general partner Zweite G.P. Limited (the "Retiring General Partner") have filed an application to make an entry in the German Commercial Register (the "Register") to the effect that:

(i) the Retiring Limited Partner and the Retiring General Partner have retired from the Limited Partnership (with effect from receipt of that application by the Register);

(ii) the Limited Partnership has been dissolved thereby and ceases to exist without prior liquidation (with effect from receipt of such application by the Register); and

(iii)  all of the assets and liabilities of the Limited Partnership stand transferred by operation of German law to the Remaining Limited Partner (Woolgate Exchange S.A).

3         According to an excerpt of the Register relating to the Limited Partnership dated 16 August 2012 obtained by the Special Servicer, the retirement of the Retiring Limited Partner and the Retiring General Partner from the Limited Partnership, as well as the dissolution of the Limited Partnership without liquidation, were registered on 13 August 2012. On the same date, it was registered that the business operations of the Limited Partnership (namely all of its assets and liabilities) have been assumed by the Remaining Limited Partner (Woolgate Exchange S.A.) and the business name of the Limited Partnership has been de-registered. 

4         The Special Servicer will continue to closely monitor developments with respect to the Remaining Limited Partner (Woolgate Exchange S.A) whilst in the meantime assessing all actions and steps it needs to take in relation to the Property and the Woolgate Exchange Loan arising out of or in connection with the dissolution of the Limited Partnership.

5         The property securing the Woolgate Exchange Whole Loan (the "Property") remains subject to the Related Security and the joint receivers appointed over the Property continue to act and work with the Special Servicer.

Please address any queries in relation to this notice to:

Jim Simpson, Capita Asset Services (UK) Limited

Email: Jim.simpson@capitaassetservices.co.uk

 

 

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange