Iceland

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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

Iceland Unveils Household-Debt Relief Program

Iceland's government unveiled a 150 billion Icelandic kronur ($1.25 billion) household-debt relief program Saturday, with the plan calling for increased taxes on the financial-services industry to help fund mortgage write-downs for Icelanders equiva ...

Daily Headline - global.abi.org - 12/02/2013 - 01:19 - 0 comments

IMF Warns on Icelandic Economy

The International Monetary Fund raised a cautionary flag Wednesday over the possible consequences of lofty campaign promises made by Iceland's new prime minister and the small island nation's inability to make progress on lifting capital contro ...

Daily Headline - global.abi.org - 08/07/2013 - 22:50 - 0 comments

Iceland Mortgage Bank Bondholders Gird for Debt Restructuring

Bondholders in Iceland’s state-backed Housing Finance Fund are waiting for the nation’s biggest mortgage bank to change the terms of their investment as the government looks for ways to keep the lender afloat, Bloomberg reported. “It wouldn’t surprise me ...

Daily Headline - global.abi.org - 06/04/2013 - 21:39 - 0 comments

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