Iceland

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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 - 22:30 - 0 comments

Iceland Reappoints Central Bank Governor

Iceland's government Friday reappointed its central bank governor, Mar Gudmundsson, for a second five-year term, backing him to continue steering the tiny island nation's recovery from a devastating financial crisis six years ago, The Wall St ...

Daily Headline - global.abi.org - 08/17/2014 - 20:14 - 0 comments

British Fraud Office Reaches Second Settlement in Inquiry Over Icelandic Bank

Britain’s Serious Fraud Office said on Thursday that it had reached a second settlement in a series of civil claims brought by two brothers after a flawed investigation into the collapse of the Icelandic bank Kaupthing during the financial crisis, the ...

Daily Headline - global.abi.org - 07/31/2014 - 18:56 - 0 comments

British Prosecutor to Pay $5.1 Million in Case Related to Kaupthing Inquiry

Britain’s Serious Fraud Office said on Friday that it would pay 3 million pounds, or about $5.1 million, to settle civil claims brought by a property developer following a flawed investigation into the collapse of the Icelandic bank Kaupthing during the ...

Daily Headline - global.abi.org - 07/27/2014 - 21:15 - 0 comments

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

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