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 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.
Important news for Life Company bondholders ...
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