On 28 October 2011, the Supreme Court of Iceland handed down its verdict in disputes concerning the so-called Icesave deposits in branches of Landsbanki Íslands hf. in London and Amsterdam.

The Supreme Court of Iceland upheld the ruling of the Reykjavík District Court in disputes on deposit claims of the UK and Dutch deposit guarantee funds in connection with Icesave deposits in the respective countries. The outcome implies that the Supreme Court confirms the legality of statutory provisions on the priority of deposits, which are therefore binding. The conclusion of the District Court, which UK and Dutch law should apply to the entitlement to interest, was also upheld. The decision of the Winding-up Board, that the claims of the UK and deposit guarantee fund should bear contractual interest until 22 April 2009 when the bank's winding-up proceedings commenced, was upheld. On the other hand the Supreme Court upheld the District Court ruling that the claim of the Dutch deposit guarantee fund should bear penalty interests according to Dutch law. All claims for costs were rejected.

These verdicts comprise final resolution of the disputes in the winding-up proceedings of Landsbanki Íslands hf.

English translation of the official abstract of Supreme Court judgement in the case that concerned the UK deposit guarantee fund can be found here.

English translation of the official abstract of Supreme Court judgement in the case that concerned the Dutch deposit guarantee fund can be found here.