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

Landsbanki bought £220m of its own shares prior to collapse

Landsbanki, the Icelandic bank which owned Icesave, bought more than £220m of its own shares in the days leading up to its collapse, creditors have been told.

The Resolution and Winding Up Committee told a meeting of creditors in Iceland that the purchases were being "investigated".

The revelation will prove embarrassing for London-based advisers of Landsbanki . .

Creditors were also told that the committee was suing former executives of the bank who authorised £200m of loans to "related parties".  02-Dec-10.