Iceland

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Kaupthing To Put UK's Oasis And Warehouse Up For Sale

Administrators for failed Icelandic bank Kaupthing are looking to sell off British high street retailers including Coast, Oasis and Warehouse which employ thousands of people, four sources familiar with the matter said. The bank was nationalised during I ...

Daily Headline - global.abi.org - 11/27/2016 - 18:07 - 0 comments

Iceland Does Not Face Another Bust, But Its Economy Looks Lopsided

Good times are rolling again in Iceland. In June it beat England in a football match. On The Economist’s “glass-ceiling index”, it is the world’s best country for working women. And the economy is purring. After a thumping crash in 2008-09, GDP is expect ...

Daily Headline - global.abi.org - 11/17/2016 - 21:39 - 0 comments

Article from INSOL Europe (4 - 10 April 2016) GlobalINSOLvency Editorial Board

This decision provides strong support to examiners using their commercial judgment and helps to clarify their role in restructuring companies in Ireland via examinership, Ireland’s main corporate rescue mechanism. Warren Baxter of Deloitte comments on th ...

Resource Article - twallace@abiwor... - 04/08/2016 - 15:16 - 0 comments - 1 attachment

Iceland’s Prime Minister Sigmundur David Gunnlaugsson Resigns After Release of ‘Panama Papers’

Icelandic Prime Minister Sigmundur David Gunnlaugsson resigned Tuesday, becoming the first major casualty of renewed global scrutiny into offshore accounts sparked by millions of documents allegedly leaked from a Panamanian law firm, The Wall Street Jo ...

Daily Headline - global.abi.org - 04/05/2016 - 20:11 - 0 comments

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

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