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Important 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, 3 November 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.

At the request of the Issuer, Stichting Security Trustee Chapel 2007 (the "Security Trustee") intends to convene a meeting of Noteholders of each class of Notes scheduled to be held on 7 December 2010, subject to change, during which certain extraordinary resolutions in connection with item 2.b below will be submitted for adoption (each a "Noteholders Meeting" and collectively, the "Noteholders Meetings"). Notice of the Noteholders Meetings will be given separately in due course.

In anticipation of the Noteholders Meetings, we hereby notify you that the Security Trustee convenes, at the request of the Issuer, an informative meeting of Noteholders of all classes of Notes to be held on 18 November 2010, at 15.00hrs (the "Informative Meeting").

The agenda of the Informative Meeting information is as follows, subject to change:

1.         Opening

2.         Elaboration on:

a.     the status of, and developments since the start of, the bankruptcy of DSB;

b.     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; and

c.     the filing by the Issuer of claims -if any- which the Issuer may have in the bankruptcy of DSB

3.         Introduction of request for extraordinary resolutions

4.         Any other business

5.         End of the Informative Meeting

 

The Security Trustee has prepared a preliminary report (the "Preliminary Security Trustee Report") containing more detailed information in relation to the aforementioned.

The Informative Meeting may be physically attended by representatives and/or proxyholders of Noteholders and subject to certain blocking instructions being submitted as set out in more detail below, at the following address:

Houthoff Buruma

Gustav Mahlerplein 50 (ITO Toren)

1082 MA Amsterdam

Noteholders is also given the opportunity to follow the Informative Meeting via a web broadcast over the internet subject to certain blocking instructions being submitted as set out in more detail below. As to be able to log into the web broadcast, a log-in code will be required. Instructions for obtaining such log-in code are also set out below.

The Royal Bank of Scotland N.V. ("RBS") will act as agent in respect of this announcement (the "Agent").

Instructions to obtain the Preliminary Security Trustee Report

Noteholders wishing to obtain the Preliminary Security Trustee Report are requested to submit such request in writing to the Agent ( email: corporate.actions@rbs.com ).

Instructions in relation to physically attending the Informative Meeting

Noteholders, their representatives or their proxyholder(s) wishing to physically attend the Informative Meeting 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 16 November 2010, all in accordance with any 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 Noteholder (including full contact details) holding such nominal amount of each class of Notes and, if applicable, name and position of the proxyholder or representative of the Noteholder who will physically attend the Informative Meeting. Noteholder representatives or proxyholders physically attending the Informative Meeting will need to identify themselves by showing a valid ID (passport or driving-licence) in order to get access to the Informative Meeting.   As of 19 November 2010 the relevant nominal amount of each class of Notes, for which an instruction has been submitted, will be unblocked.

Instructions in relation to following the Informative Meeting per web broadcast

Noteholders , their representatives or their proxyholder(s) wishing to follow the Informative Meeting per web broadcast 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 16 November 2010, all in accordance with any 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 holding such nominal amount of each class of Notes (including full contact details and particularly the e-mail address to which the code needs to be sent in order to be able to log into the web broadcast ). As of 19 November 2010 the relevant nominal amount of each class of Notes, for which an instruction has been submitted, will be unblocked.

After submission of the blocking instruction as described above, Noteholders or their proxyholder(s) will on 17 November be sent the log-in code required to be able to follow the web broadcast of the Informative Meeting .

 

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 constitutes the formal announcement of the Informative Meeting. Neither Euroclear Bank S.A./N.V., Clearstream Banking société anonyme, the Issuer, the Security Trustee or Royal Bank of Scotland N.V. accept any liability whatsoever for any act or omission to act in relation to the foregoing.

 

 

Amsterdamsch Trustee's Kantoor B.V.

Director

Fred. Roeskestraat 123

1076   EE Amsterdam, the Netherlands

 

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.
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