Frequently Asked Questions - Bonds

As a general matter, no. The Winding-Up Board will consider on a case-by-case basis requests to unblock a bond position, however, requests to unblock or cancel a prior request to block a bond position have thus far been granted only in limited circumstances, such as manifest error. In any scenario in which the Winding-Up Board consents to a request to unblock or cancel a prior request to block, such consent should not be construed as a statement by the Winding-Up Board regarding the value (if any) of the bonds to be unblocked.

When bonds are blocked, they are “frozen” by the relevant depository to ensure that they are prevented from being traded. The depositories will provide information to the Winding-Up Board about blocked positions, and the blocking number will provide a link from a particular bond position to a particular claim. This will help the Winding-Up Board confirm the ownership of a bond position that is included in a bond claim form.

If you filed a claim on or before the deadline (i.e., 30 October 2009), you do still have the opportunity to obtain a blocking number. To obtain the number you should first contact Epiq Bankruptcy Solutions, the Winding-Up Board´s Claim Transfer Agent, by telephone at +646.282.2400 or email via landsbanki@epiqsystems.com. Epiq will notify the relevant depository (i.e., Euroclear, Clearstream or DTC) that the Winding-Up Board has agreed to allow you to obtain a blocking number. You will then be required to seek a blocking number through your accountholder according to the standard procedures required by the relevant depository. Epiq cannot assist you in that part of the process. Please note that failure to provide a blocking number as part of your claim – for any reason – will potentially affect the Winding-Up Board’s ability to verify and, therefore, properly determine the validity of your claim related to Landsbanki Bonds.