Managing Director

Talks with Wells Fargo after court decision against Chapter 11 extension of existing loan through Wells Fargo resumed possible enforcement of collateral by Wells Fargo so far not carried out Berlin, March 07, 2011 after intensive negotiations of the management of the life trust asset pool (LTAP) with the lending bank Wells Fargo in recent days reached an agreement with the Bank on behalf of investors of life trust fund number suggests. At its core, ongoing and already advanced talks provide an extension of the existing Wells Fargo credit line. Thus, a continuation of the police pool by LTAP management would ensure. Wells Fargo has refrained so far, which is entitled to the credit as collateral to collect-backed Fund policies, although the Bank to do so since March 4, 2011. Prerequisite for a successful conclusion of the talks is a written documentation of the agreement, which must be deposited with the competent District Court in Wilmington, Delaware, US – United States. According to current is the ability to achieve such an agreement in the coming weeks. Despite the decision of the District Court against the application of the LTAP on a creditor protection procedures (Chapter 11 “) the LTAP management on a resumption of talks had entered with Wells Fargo. We are cautiously optimistic that we still succeed, with Wells Fargo to come to a mutually acceptable solution on behalf of investors. As a mutual interest to find an amicable solution is,”said Franz-Philippe Przybyl, Managing Director of the Berlin Atlantic group and responsible for the LTAP.