DST Update re Individual Claims under the Parental Guarantee 2 Oct 2010

Category: DAG Public News

A third and final 'batch' of individual claims under the PG was rejected in September.  Those concerned should have been notified by the Winding-up Board (WuB) and invited to lodge objections by 21 September.

We regret that, not being directly concerned, we were unaware of this latest batch and the deadline for objections until now.  Hopefully, however, anyone having received a rejection in September and wishing to object will have done so.

As previously announced, the cases of the first 'batch', which were rejected before the first Creditor’s Meeting on 29th January and for which objections were lodged at that meeting, were referred to court for decision, following intervention by our Icelandic lawyers, to be decided on the basis of a specimen case, the outcome of which would then apply to all depositors who have claimed and whose claim has been rejected, and who have objected to that rejection.

The dispute regarding the specimen case was referred to the Distict Court of Reykjavík on 17 May. No date for a hearing has yet been fixed as it has been agreed between our lawyers and the WuB, with the approval of the Court, to await the outcome of the claim by KSFIOM. No date has yet been fixed for that hearing, but it is believed it should be quite soon now.

To ensure all this can be managed as efficiently as possible, and coordinated with our Icelandic lawyers when the objections are considered in court, it would be helpful if anyone who has recently lodged an objection could email us at This email address is being protected from spambots. You need JavaScript enabled to view it.This e-mail address is being protected from spambots. You need JavaScript enabled to view it to let us know you have objected and also giving the name(s) and claim number(s) of the claimant(s). As before, we ask you please not to attempt to contact our Icelandic lawyers directly as this will only serve to increase our costs.

Hits: 2067