As our liquidation drags slowly towards an end and while waiting for further news, you might enjoy the latest story from Iceland : here !
During the quarter to 31 March 2016, cash balances decreased by approximately £0.4 million. There were no repayments to any of the outstanding facilities.
The Liquidator's Report to Creditors for the period 10 July 2015 to 9 Jan 2016 is available here
Highlights at 9 Jan 2016
- 100p in the £ dividends paid to creditors
- £938.8m of assets recovered
- 94.3% of loan book recovered
The Composition Agreement of Kaupthing hf., which was confirmed by the District Court of Reykjavik on 15 December 2015, has as of today’s date, 23 December 2015, become final and binding under Icelandic law.
A seven-year standoff between Iceland and the international creditors of its failed banks is nearing and end after a court approved the last remaining settlement.