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


This page contains brief summaries of and links to media reports from the source AFP.

Iceland, British, Dutch officials try to revive Icesave talks

Representatives of Iceland, Britain and the Netherlands met in Reykjavik this week to prepare further talks on a new repayment deal to cover the collapse of the Icesave bank, the Icelandic government said Friday. . .

"The purpose of the meetings was primarily to exchange information and to prepare further talks later this year," it said, pointing out that "this is the first time the parties meet since the talks were adjourned on March 5."  02-Jul-10.

Failed Icelandic bank seeks 197 million euros from former staff

REYKJAVIK — Failed Icelandic bank Kaupthing said Monday it would seek to recover 32 billion Icelandic kronur (197 million euros, 244 million dollars) from former executives who had taken loans to buy shares in the bank.

Around 80 former employees, many of them former top executives, have been informed they would be held personally liable for huge loans they had taken to buy shares in Kaupthing before it collapsed in October 2008, administrators of the bank's liquidation said in a statement. . .

Iceland's third failed bank Landsbanki has also said it is planning a lawsuit to try to get back as much as 1.5 billion euros from former executives and shareholders. 17-May-10.

Iceland leader delays signing Icesave deal

The president of Iceland said Thursday he would delay a decision on a deal approved by parliament to pay Britain and the Netherlands for having compensated savers in a failed Icelandic bank.

On Saturday he is to receive a petition signed by nearly 40,000 of the island's 320,000 inhabitants opposing the arrangement.

If the president refuses to endorse the legislation, the issue would be put to a referendum.  31-Dec-09.  AFP via Google

Iceland approves Icesave compensation

Iceland parliament's approved paying nearly four billion euros to Britain and the Netherlands, which had compensated more than 320,000 of their savers in a failed Icelandic bank.

Although the measure has stirred up resentment among many ordinary Icelanders hard hit by their country's financial meltdown in 2008, lawmakers approved the measure by a vote of 33 to 30 as the issue had become a major obstacle in the small Atlantic island nation's bid to join the European Union.  31-Dec-09.  AFP via Yahoo! News

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Iceland agonises over compensation deal

REYKJAVIK — Iceland's government is battling to convince lawmakers to approve a deal to pay back billions of euros to the British and Dutch governments in a row which threatens its bid to join the EU.

After London and The Hague compensated hundreds of thousands of British and Dutch savers who lost money in the collapse of the online bank Icesave, Reykjavik reached an agreement in June under which Iceland would repay 3.8 billion euros to Britain and the Netherlands by 2023.

The Icelandic parliament, the Althing, has to give its green light for the deal to go through, but amid heated debate the government may struggle to obtain the majority needed.

The accord is highly unpopular among the public and several members of the left-wing majority have threatened to side with the opposition to thwart the deal.  11-Aug-09.


Iceland, EU states draw up plan to rescue savers

REYKJAVIK (AFP) – Iceland and a group of EU countries have agreed on a negotiating framework to settle a row over compensating British savers, the government in Rejkjavik said Sunday. British  clients of Icesave, a subsidiary of Iceland's second biggest bank Landsbanki, had their accounts frozen when the bank ran into liquidity problems and was nationalised in early October. . .

. . ."Talks between Iceland and several EU member states,initiated by the French EU presidency, led to a common understanding that will form the basis for further negotiations," a statement in Reykjavik said, "According to the agreed guidelines, the government of Iceland will cover deposits of insured depositors in the Icesave accounts in accordance with EEA (European Economic Area) law. AFP News Release, on Clear News, agoratalk website - 28-Feb-09.

Britain to loan Iceland £3bln to repay savers: report

LONDON (AFP) — Britain is planning to lend about three billion pounds to Iceland to repay savers with money in a stricken Icelandic bank, a newspaper reported on Wednesday.

The Financial Times, quoting unnamed officials in Iceland, said a British delegation hoped to wrap up the deal -- worth about 30 percent of the island nation's gross domestic product -- during a trip to the country this week. 22-Oct-08.

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