On 12 November 2015, Kaupthing received a formal response from the Central Bank of Iceland (“CBI”) to the request submitted by Kaupthing to the CBI on 21 October 2015 for certain exemptions from the Foreign Exchange Act ...
During the quarter to September 2015, cash balances increased by approximately £5.6 million. Approximately £5.6 million was received in full and final settlement of four connected loans, and £8.8 million was written off, after a lengthy legal process.
The Liquidator's Report to Creditors for the period 10 January 2015 to 9 July 2015 is available here
Highlights at 9 July 2015
- 100p in the £ dividends paid to creditors
- £932.9m of assets recovered
- 93.0% of loan book recovered
Six defendants in the Kaupþing market manipulation case, the biggest case of this type in Iceland’s history, have been handed prison sentences ranging from one year to four years and six months.