Notice on the upcoming creditors´ meeting

On 19 May 2011 a previously advertised creditors´ meeting will be held at 9:00 am at Hilton Nordica, Suðurlandsbraut 2, Reykjavík where the Winding-up Board will present its decisions on claims against the bank to the extent possible.

Prior to the meeting, on 12 May 2011 a list of all claims lodged against the bank will be made available to creditors at the following URL: http://lbi.is/creditor-information/Login.aspx. Access to these pages requires a user name and password. Creditors are able to continue to use their previously granted user name and password. Following the meeting, the minutes of the meeting will be published at the same web location together with various documents presented at the meeting.

The large number of claims lodged, however, has necessitated postponing a decision on certain claims against the bank.

The Winding-up Board specifically draws the attention of creditors to the fact that the Winding-up Board will not send out notices of deferred decisions to creditors prior to the meeting. Claims will continue to be marked with “AF” in the Claims List where the Winding-up Board has deferred its decision on claims.

Creditors who see reason to object to a claim, concerning which a decision has been taken according to the list of claims lodged, must communicate their objection to the Winding-up Board no later than at the meeting on 19 May. If no objections are received, the decision of the Winding-up Board on the claim in question can be expected to be considered final, cf. the third paragraph of Article 120 of Act No. 21/1991, on Bankruptcy etc. Forms intended for submitting objections, available at the URL above, are to be filled out and delivered to the Winding-up Board either prior to or at the meeting.

The date of next creditors´ meeting  will be announced at the meeting on 19 May. With reference to the final sentence of the first paragraph of Art. 119 of the Act on Bankruptcy etc., No. 21/1991, no decisions will be taken on subordinate claims, as referred to in Article 114 of Act No. 21/1991, on Bankruptcy etc.

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