info.LandsbankiAction.org.gg   30-Mar-2016: Liquidators' Update, see Deloitte site

Media Reports

This page contains brief summaries of and links to media reports of relevance. Click on one of the topics or the source below each entry to see only reports on that topic or from that source.  See Selected for the media reports that the site editors have selected as the most important or relevant.

Crunch threatens offshore money

Councils around Britain have £850m trapped in collapsed Icelandic banks. The latest figures on councils and public bodies in the UK could hardly be more stark.

But as much, if not more, has been invested by British depositors in Icelandic-owned banks in Guernsey and the Isle of Man. 14-Oct-08.

http://www.channel4.com/news/articles/business_money/crunch+threatens+offshore+money/2523727

Landsbanki Guernsey savers may lose everything

Thousands of British savers with Landsbanki Guernsey may not get their money back, it emerged today.

The bank, a subsidiary of Icelandic bank Landsbanki, which has been taken over by the Icelandic Financial Services Authority, did offer some of the best rates on offshore savings accounts. But now savers in both the UK and the Channel Islands are unable to access their money.

There is no deposit protection scheme in Guernsey, and Landsbanki Guernsey is not covered by either the UK’s Financial Services Compensation Scheme (FSCS), or Iceland’s protection scheme, because it is registered in Guernsey.  09-Oct-08.

ICELAND TAKES CONTROL OF LANDSBANKI

Iceland has nationalised its second-largest bank under new emergency legislation as it moved to get a grip on the escalating economic crisis. The bail-out of Landsbanki came a day after trading in shares of major banks was suspended, the Icelandic krona lost a quarter of its value against the euro, and the government rushed through emergency legislation giving it sweeping powers to deal with the financial meltdown. 07-Oct-08.

http://www.express.co.uk/posts/view/65008/Iceland-takes-control-of-Landsbanki

Trading in Icelandic banks halted pending announcement

Trading in the shares of Icelandic banks was suspended in Reykjavik ahead of an announcement and because of concerns over the pricing of their shares.

The suspension covers trading in all financial instruments issued by Kaupthing, Landsbanki, Glitnir, the Icelandic lender bailed out by the government after its short-term funding dried up, Straumur-Burdaras, Exista and Spron. 06-Oct-08.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3144756/Trading-in-Icelandic-banks-halted-pending-announcement.html

Iceland's Landsbanki says business sound

STOCKHOLM, Sept 29 (Reuters) - Iceland's Landsbanki LAIS.IC said on Monday its business was sound and that it had ample liquidity to ride out a market crisis that saw domestic rival Glitnir GLB.IC taken over by the government. 29-Sept-08.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSAT00559920080929

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