Kaupthing hf 08 June 15: Response to the Announcement from the Government Regarding Capital Control Liberalization
Reference is made to the announcement made today by the Icelandic Government in relation to the intention of the government to introduce a stability tax and exemption framework as part of its strategy to allow for the liberalization of the capital controls that were introduced in 2008.
During the quarter to March 2015, no loan facilities were redeemed in part or in full. However, in early April, one facility was repaid in full realising £2.5 million. Full details on the bank website here
Highlights at 9 January 2015
- 100p in the £ dividends paid to creditors
- £930.2m of assets recovered
- 92.3% of loan book recovered
- KSFUK claim sold for £18.5m
The results today that it is possible to bring complicated financial cases to court and get conviction,” Ólafur Hauksson head of Office of the Special Prosecutor said to Icelog, now that the Supreme Court has ruled in one of the OSP’s major cases, the al Thani case.
During December 2014, one facility was redeemed in part realising approximately £18,000. Cash balances decreased by approximately £1.1 million during the month, largely due to liquidation expenses.