The Winding-up Board of Landsbanki Islands hf. has implemented a moratorium on claim transfers from 05 May 2011 to 23 May 2011.

The District Court of Reykjavik has issued rulings in proceedings relating to deposit claims lodged by the UK and Dutch deposit guarantee schemes in connection with the Icesave savings accounts which were offered in those countries.

The Landsbanki Resolution Committee notes media speculation with regards to the potential disposal of its majority stake in Iceland Foods Group Limited.

Verdicts have been issued in disputes regarding wholesale deposits of British and Dutch municipalities deposited in the London and Amsterdam branches of Landsbanki Íslands hf.

On March 23rd case pleadings before the District Court of Reykjavík in disputes regarding the claims of FSCS and DNB against Landsbanki Islands hf. for the so called Icesave deposits.

There has been considerable success in increased reclaims of the asset portfolio of Landsbanki Íslands hf. during the last quarter of 2010, for which summary figures are published today.

Landsbanki Íslands hf. (LBI) has accepted the offer from a company owned by Remmen's Stiftung von 1986 to purchase the Hotel D'Angleterre in Copenhagen. The new owners will take over operation of the hotel on 1 February this year.

The Resolution Committee and Winding-up Committee of Landsbanki Íslands (LBI) held an open creditors’ meeting today, 1 December 2010.

On 4 November 2010, the Winding-up Board obtained the recognition of the Icelandic winding-up proceedings in Canada under Canadian bankruptcy and insolvency legislation.

The Winding-up Board of Landsbanki Islands hf has implemented a moratorium on claim transfers from 16 November 2010 to 06 December 2010.

Today, 22 November 2010, the Reykjavík District Court ruled that Landsbanki Íslands hf. is to be wound up as provided for in the general rules of Act No. 161/2002 as amended.

On 1 December 2010 a previously advertised creditors´ meeting will be held at 9:00 am at Hilton Nordica, Suðurlandsbraut 2, Reykjavík where the Winding-up Board plans to continue to present its decisions on claims lodged with priority according to Articles 109-112 of the Act on Bankruptcy etc., as well as presenting its decisions on general claims against the bank to the extent possible.

Landsbanki Íslands hf. was considerably successful in increasing assets recovered in Q3 of 2010. The increase over the previous quarter amounted to ISK 18 billion in foreign currencies.

The Reykjavik District Court issued a ruling extending the moratorium of Landsbanki Íslands hf. on Tuesday, 31 August 2010.

Moratorium

The principal focus  of this creditors’ meeting of Landsbanki Íslands hf. is the proposed extension of the bank’s moratorium.  The Reykjavík District Court originally approved the bank’s request for a moratorium on 5 December 2008. 

A ruling by the Reykjavík District Court, pronounced on 27 November 2009, authorised the extension of the moratorium granted to Landsbanki Íslands hf., Reg. No. 540291-2259, Austurstræti 16, 101 Reykjavík, which was originally granted on 5 December 2008, to 10:00 am on 26 August 2010.

A meeting of creditors of Landsbanki Íslands hf. was held on Thursday, 27 May 2010, in Reykjavík. The Resolution Committee presented a summary of LBI's financial position and the Winding-up Board gave an account of decisions on recognising claims.

The Central Bank of Iceland, Central Bank of Luxembourg (BCL) and the liquidator of Landsbanki Luxembourg have signed an agreement to purchase 98% of the outstanding bonds in Avens B.V.

Landsbanki Íslands hf. takes over administration of the bank's assets in the Netherlands

Landsbanki Íslands hf. (LBI) is in the process of appropriating the entire asset portfolio of Nordic Partners.