Moratorium extended until 26 November
The District Court of Reykjavík today agreed to a motion by the Resolution Committee of Landsbanki Íslands hf. to extend the company's moratorium by nine months, or until 26 November 2009. No creditor objected to the extension request when the case was brought before the Court.
Lárus Finnbogason, Chairman of the Resolution Committee: "The Resolution Committee welcomes this decision. By ruling in favour of continued moratorium, the District Court of Reykjavík has provided Landsbanki Íslands hf. with an opportunity and platform to work towards the aim of maximising the value of the bank's assets, to the advantage of its creditors. The Resolution Committee will co-operate closely with creditors during this process."
It should be pointed out that the continued moratorium of Landsbanki Íslands hf. in no way affects the operations of NBI hf.