The Chairman of the Resolution Committee of Landsbanki Íslands hf ("Old Landsbanki"), Mr Lárus Finnbogason, announced that the first informal creditors' committee meeting (ICC) had been held on Friday 14th November, in Reykjavík, Iceland. The ICC is made up of creditors and creditor's representatives of Old Landsbanki representing the interests of different classes and types of creditors.

The meeting discussed the background to Landsbanki's operations and the circumstances leading up to action taken by the Icelandic financial regulator (FME). Attendees were informed of actions being taken by the Resolution Committee to both maximize long-term value and protect assets for stakeholders and there was a discussion of the way forward for Old Landsbanki to achieve the best long-term result for stakeholders. Suggestions provided by creditors on strategy, structure and direction forward were received by the Resolution Committee and will be communicated to the FME.

The Resolution Committee looks forward to working closely with the ICC towards a solution that maximises recovery for all stakeholders.