The Winding-up Board of LBI  draws attention to those concerned to an announcement (link below) from the Icelandic Ministry of Finance.

On May 26, the Winding-up Board of LBI submitted an exemption request to the Central Bank of Iceland (CBI) in order to make payments to claims under Art. 109 -112 of the Bankruptcy Act (BA) for an amount equivalent to ISK 123.5bn. This amount reflects the total foreign currency cash balance held by LBI as of May 26.

The Winding-up Board of LBI hf. held a Creditors' Meeting today, 12 March 2015.

On Thursday, 12 March 2015, at 9:00 am, a meeting will be held with creditors in the winding-up proceedings of LBI hf. (formerly Landsbanki Íslands hf.), Reg. No. 540291-2259, at Hotel Hilton Reykjavik Nordica, Suðurlandsbraut 2 in Reykjavík.

The Central Bank of Iceland has further amended its Terms of Auction for the purchase of Icelandic krónur (ISK) in exchange for foreign currency and, among other things, vacated the condition that minimum bid from each individual creditor is one million ISK.

The Winding-up Board of LBI hf. has expanded the Markdown Process. It is now available to Beneficial Owners who:

The Central Bank of Iceland has amended its Terms of Auction for the purchase of Icelandic krónur (ISK) in exchange for foreign currency to allow commercial banks in Iceland to collect offers on non-residents´ ISK assets deriving from domestic bankruptcy estates´ payments on claims recognised with priority according to Articles 109. – 112. of the Act on Bankruptcy etc. No 21/1991.