Iceland

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Brown Rudnick Alert: Iceland's Capital Controls Saga - The End of The Freeze? - ATTORNEY ADVERTISING

In the decades before 2008, Iceland had a stable and prosperous economy, built on fishing, tourism, aluminium smelting and - to an extent that grew rapidly over time - financial services. Then, in late 2008, following the difficulties experienced by the ...

Resource Article - twallace@abiwor... - 02/01/2016 - 09:31 - 0 comments - 0 attachments

Failed Icelandic Bank Glitnir To Start Repaying Creditors

Failed Icelandic bank Glitnir said on Thursday it had got agreement from the central bank to begin paying out billions of dollars owed to creditors since it collapsed in 2008, Reuters reported. Iceland's financial system crashed during the global fi ...

Daily Headline - global.abi.org - 12/17/2015 - 22:14 - 0 comments

Iceland Moves To Nationalise Islandsbanki, On Way To Lifting Capital Controls

Iceland moved a step closer to lifting capital controls imposed following its 2008 financial meltdown, with creditors of one failed bank on Tuesday proposing the nationalisation of the successor bank in which they hold a majority stake, Reuters reported. ...

Daily Headline - global.abi.org - 10/20/2015 - 21:20 - 0 comments

Free Lunch: Default, Depreciation, And Controls

Since Iceland's banking system collapsed in late 2008, the small island state has served as a pioneering counter example to Europe's way of handling a debt crisis. When Icelandic banks, which had grown to 10 times the country's annual inco ...

Daily Headline - global.abi.org - 06/15/2015 - 20:22 - 0 comments

Iceland to Lift Capital Controls Imposed After Financial Crisis

After Iceland imposed capital controls during the global financial crisis, the move helped stabilize the country’s banking system, putting the economy on a path to recovery, the International New York Times DealBook blog reported. As Iceland now unwi ...

Daily Headline - global.abi.org - 06/08/2015 - 21:03 - 0 comments

Iceland Prepares To Come In From The Financial Cold

After more than six long and lonely years, Iceland is hoping its financial isolation will soon be over. The North Atlantic nation, whose spectacular 2008 meltdown came to symbolise the greed and mismanagement of the global financial system, is expected t ...

Daily Headline - global.abi.org - 04/02/2015 - 22:15 - 0 comments

Iceland Considering Unfreezing Assets of Three Failed Banks

Iceland’s government signaled this week that it is closing in on a plan that would unfreeze the assets of three failed banks for creditors owed tens of billions of dollars, The Wall Street Journal reported. At a meeting Tuesday, a government lawyer t ...

Daily Headline - global.abi.org - 12/10/2014 - 22:34 - 0 comments

Iceland Says Proposals for Exiting Capital Controls Now Complete

Iceland is set to unveil plans for exiting its six-year capital control regime at the start of next week after granting an exemption to LBI hf to repay 400 billion kronur ($3.2 billion) to priority creditors, according to people familiar with government’ ...

Daily Headline - global.abi.org - 12/04/2014 - 20:56 - 0 comments

British Developer Vincent Tchenguiz Files $3.5 Billion Claim Over Iceland Bank Inquiry

The property developer Vincent Tchenguiz has filed a $3.5 billion claim in London against the accounting firm Grant Thornton, the Icelandic bank Kaupthing and three individuals, claiming they were behind a flawed criminal inquiry into the bank’s collapse ...

Daily Headline - global.abi.org - 11/27/2014 - 19:33 - 0 comments

Icelandic Bank Targets First IPO Since $85 Billion Default

Six years after Iceland’s banks defaulted on $85 billion in debt and brought the Atlantic island’s economy to its knees, Islandsbanki hf is seeking to sell shares to international investors, Bloomberg News reported. The island’s second-largest bank, form ...

Daily Headline - global.abi.org - 10/19/2014 - 21:30 - 0 comments

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