Kaupthing hf 9 Dec 2014: Announcement from the Winding-up Committee

Category: Newsflash

Today, Kaupthing‘s Winding-up Committee, its advisers and creditors‘ advisers together with the Winding-up Committee of Glitnir and LBI met with representatives of the Government and its advisers. 

The purpose of the meeting was to consult with each estate for the resolution of the respective estate in the context of Iceland’s objective to lift the capital controls. Following that meeting, the representatives of each estate met separately with the representatives of the Government and its advisers. 

Kaupthing‘s Winding-up Committee welcomes the meeting and this opportunity to have a forum to express its views with the authorities concerned. Kaupthing believes this to be a positive first step as it should be in all parties’ interests to continue this process to agree acceptable solutions for all parties. 

Kaupthing‘s Winding-up Committee firmly believes that a consensual solution can be achieved through a composition with creditors which ensures finality and is binding for all creditors. Kaupthing‘s Winding-up Committee furthermore believes that it has developed solutions which should allow Kaupthing to exit the winding-up proceedings through a composition without negatively impacting either the financial stability of Iceland or the ability to lift the capital controls. Kaupthing‘s Winding-up Committee remains available to discuss these solutions with the Government and its advisers.

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