News Archive

2022

2021

2020

2019

2018

2017

2016

2015

Older

23.03.2016

Annual General Meeting of LBI ehf.

The Annual General Meeting of LBI ehf., kt. 540291-2259, is hereby convened to be held at Hilton Reykjavík Nordica, Suðurlandsbraut 2, Reykjavik, Thursday 14 April 2016 and will start at 10:00 am.

Read More
23.03.2016

Status and fulfilment of the Composition Agreement – issuance of Bonds and delivery of Shares.

The issuance of Bonds and delivery of Shares (together the “Securities”) in accordance with the composition agreement (the “Composition Agreement”) of LBI ehf. (the “Company”) took place today, 23 March 2016. The aggregate amount of the Bonds issued was EUR 2,041,382,201 and the entitlement of each creditor is determined by the Composition Agreement.

Read More
01.03.2016

Transfer Moratorium Lifted / Claim Transfer To Close

The Moratorium on claim transfers put in place on 2 February 2016 has been lifted.

Read More
19.02.2016

Status and fulfilment of the Composition Agreement – adoption of new articles for LBI ehf. and extension of time to issue securities

At a shareholders‘ meeting of LBI ehf. (the “Company”), which the Winding-up Board held today, 19 February 2016, in accordance with the composition agreement of the Company (the “Composition Agreement”) and based on the statutory authority of the Winding-up Board pursuant to the second sentence of paragraph 4 of Article 101 of the Act on Financial Undertakings No. 161/2002, c.f. paragraph 3 of Article 103 a of the same Act, new articles of association (the “Articles”) were adopted by the Company.

Read More
17.02.2016

Status and fulfilment of the Composition Agreement – filing of motion in the United States Bankruptcy Court

Yesterday, February 16, 2016, the Winding-up Board of LBI hf. filed a motion in the United States Bankruptcy Court, Southern District of New York, for an order recognizing and enforcing the order of the District Court of Reykjavik confirming the company´s composition agreement, and granting related relief. A copy of the notice is available here

Read More
09.02.2016

Status and fulfilment of the Composition Agreement – information to enable issuance of securities

In relation to preparation of the issuance of the Bonds and the Shares (together the “Securities”) as a part of the fulfilment of the Composition Agreement of LBI, creditors entitled to receive Securities in accordance with the conditions of the Composition Agreement have been instructed to provide certain information and documents.

Read More
08.02.2016

Status and fulfilment of the Composition Agreement – de minimis payments

In accordance with the Composition Agreement for LBI, which became binding upon the end of the time limit to appeal according to Article 59 of the Act on Bankruptcy etc. No. 21/1991 on 25 December 2015, LBI has now executed the de minimis payments to its creditors.

Read More
08.02.2016

Information to Creditors in relation to LBI‘s exemptions from capital controls

In a letter from the Central Bank of Iceland, dated 11 January 2016, LBI hf. was granted exemptions from the capital controls pursuant to the Act No 87/1992 on Foreign Currency with respect to the settlement towards creditors based on the company´s Composition Agreement. The letter also stated that the creditors of LBI hf. had been granted certain exemptions in relation to payments received pursuant to the Composition Agreement.

Read More
18.01.2016

LBI hf. Transfer Moratorium in Preparation for De Minimis Payments

In preparation for De Minimis Payments, the Winding-up Board of LBI hf. (the “WuB”) will set a claim transfer moratorium beginning on February 2, 2016.  The LBI hf. Transfer Register will not be updated for any claim transfer that has not received a Notice of Successful Transfer (an “NOST”) by February 2, 2016.

Read More
13.01.2016

Status and fulfilment of the Composition Agreement – payment instructions to be provided

The Composition Agreement for LBI hf. became binding upon the end of the time limit to appeal according to Article 59 of the Act on Bankruptcy etc. No. 21/1991 on 25 December 2015.

Read More