Iceland

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Iceland Aims To Sell Down Stake In New Landsbanki

Iceland aims to sell as much as 30 percent of New Landsbanki, one of the banks to emerge from the 2008 financial crisis, to help reduce government debt, Reuters reported. Iceland's three main banks had assets worth around 10 times the value of the e ...

Daily Headline - global.abi.org - 07/07/2014 - 23:08 - 0 comments

Iceland Says Defunct Banks Could Be Made Bankrupt Unless Creditors Take Haircut

Iceland's defunct banks could be put into bankruptcy if creditors do not agree to a haircut on debts owed by Kaupthing, Glitnir and Landsbanki, which collapsed in 2008 owing more than $75 billion, the finance minister warned on Tuesday, Reuters repo ...

Daily Headline - global.abi.org - 05/27/2014 - 21:49 - 0 comments

Biggest Icelandic Mortgage Bank to Be Wound Down Amid Insolvency

Iceland’s government proposed disbanding the Housing Financing Fund, the nation’s largest mortgage provider, as the lender struggles to make a profit amid loan losses and competition from commercial banks, Bloomberg News reported. The island nation will ...

Daily Headline - global.abi.org - 05/06/2014 - 21:46 - 0 comments

Iceland Premier Repels Icesave Lawsuit

Iceland’s prime minister has criticised the UK and Dutch authorities for filing a IKr1,000bn (£5.6bn) lawsuit over the 2008 collapse of online lender Icesave, saying they should “forget” the affair as they were unlikely to win the case. Sigmundur David G ...

Daily Headline - global.abi.org - 02/11/2014 - 23:18 - 0 comments

Icesave Dispute Resurrected In Court

British and Dutch authorities have reignited the controversial dispute over the collapse of online lender Icesave at the height of the financial crisis in 2008 by filing a lawsuit for up to IKr1,000bn (£5.6bn) against Iceland’s bank guarantee fund, the ...

Daily Headline - global.abi.org - 02/10/2014 - 23:33 - 0 comments

Hedge Funds Snubbed as Iceland Reviews Bankruptcy

Hedge funds and other creditors in Iceland’s failed banks are trying to get a response from the nation’s authorities on the status of their claims as the government considers amending the bankruptcy law, Bloomberg News reported. More than five years afte ...

Daily Headline - global.abi.org - 01/22/2014 - 23:55 - 0 comments

After Crisis, Iceland Holds a Tight Grip on Its Banks

An angular glass building on the waterfront here used to be the headquarters of a banking giant with operations in Europe, North America and the Middle East, The New York Times DealBook blog reported. Now, it houses a shadow of that behemoth — a smal ...

Daily Headline - global.abi.org - 01/15/2014 - 23:54 - 0 comments

Iceland Loses Patience as Bank Creditor Settlements Drag On

Iceland is losing patience with creditors in its failed banks as the government considers forcing through bankruptcy proceedings to help it exit capital control in place since 2008, Bloomberg News reported. “The Bankruptcy Act doesn’t anticipate that att ...

Daily Headline - global.abi.org - 01/13/2014 - 22:55 - 0 comments

Inside Story: Iceland

In the autumn of 2008 the Icelandic financial system faced severe difficulties. The failure of the country’s three largest banks, Kaupthing Bank (“Kaupthing”), Glitnir Bank (“Glitnir”) and Landsbanki (“LBI”), led to them being taken over by the Icelandi ...

Resource Article - twallace@abiwor... - 02/05/2014 - 16:10 - 0 comments - 1 attachment

Iceland Cbank To Sell $8.6 Billion In Bonds Held Against Collateral From Failed Banks

Iceland's central bank said on Monday it will begin selling just over 100 billion crowns ($8.6 bln) worth of bonds held against assets and claims left with it as the nation's banks collapsed during the global financial crisis, Reuters reported. ...

Daily Headline - global.abi.org - 12/16/2013 - 23:59 - 0 comments

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