THE FIREWORKS BEGIN AT THE END OF APRILInDecember 2020, the Court made orders requiring AMPFP to produce documentsfalling within 11 categories to the applicant. These included documentsrelating to the change to the BOLR multiple, relating to consultation with theAdvisers Association, and documents considering the market value of registerrights and whether an “economic change” had occurred.
Although the Court orders required AMPFP to produce these documents by 31 March2021, AMPFP has only partly completed that task. The discovery orders requiredAMPFP to produce documents in its possession falling within 11 categories. Sofar AMPFP has only produced documents responsive to 5 of those categories. AMPFP advise they expect to be in a position to produce the balance bythe end of April.
Listed below;
- The categories which AMPFP has already responded to.
- The categories which AMPFP still needs to respond to.
Categoriesalready responded to
- Documents constituting any notice given to planners about the change to the BOLR Multiple
- Documents from the AMPFP board meeting which was held on 7 August 2019
- Documents containing a release clause
- Documents relating to the lead applicant’s BOLR application
- Documents recording consideration by the AMPFP Board of when to announce changes to the BOLR Multiple
Categoriesnot yet responded to
- Documents relating to any proposed change to the BOLR Multiple
- Documents relating to consultation with the Advisers Association
- Documents relating to any decrease in the market value of register rights
- Documents analysing the market value of register rights
- Documents relating to whether an “economic change” had occurred
- Documents relating to AMPFP’s financialliability in respect of its BOLR obligations (both before and after the 8August changes)
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