30-Mar-2016: Liquidators' Update, see Deloitte site

Icesave Deal on the Horizon?

Negotiations on Landsbanki’s Icesave deposits in the UK and the Netherlands are said to be going well and an agreement might even be underway, in as soon as two months, according to the sources of Icelandic national broadcaster RÚV.

It can now be stated with more certainty how much the assets of Landsbanki are worth and it is considered likely that approximately 90 percent of the Icesave debt can be obtained with their sale, reports.

Moreover, a larger part of these assets are in cash than when the Icesave negotiations were initially launched.

However, RÚV’s sources state that certain disputes have yet to be resolved, which impacts the agreement’s final conclusion, such as when repayment is to begin and in what length of time the amount will be paid back.[Ends.] 19-Oct-10.