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

Iceland’s New Government Must Settle Creditor Talks (Update1)

April 27 (Bloomberg) -- Iceland’s coalition of Social Democrats and Left Greens, which won the weekend’s parliamentary elections, has little time for self-congratulation.  Creditors impatient for repayment and financiers demanding compliance with the terms of an international bailout will be knocking on the door before the champagne runs dry.

The administration takes office as the country awaits the next part of a $5.1 billion International Monetary Fund-led loan. Payment depends on the success of talks over debt owed to creditors of the island’s collapsed banks and failure may derail hopes of economic recovery. The creditors seek to recoup more than $80 billion, almost eight times Iceland’s national output.. .

. . .  Iceland had targeted a settlement with international creditors of the failed, Reykjavik-based banks, Kaupthing Bank hf, Landsbanki Islands hf and Glitnir Bank hf, this month, Gylfi Magnusson, interim business affairs minister, said on March 11. 27-Apr-09.