The moratorium on 112 claim transfers put in place on 8 December 2014 has been lifted. 

Transfer MoratoriumThe Winding-up Board of LBI hf. has implemented a moratorium on 112 claim transfers from and including 8 December 2014 until further notice.  Transfers of 112 claims will not be taken into account during the moratorium in order for the Winding-Up Board to prepare updated list of claims in preparation for partial payments, which are expected to take place before the end of this year. Transfers received on or before 7 December will be processed and taken into account. 

Today, 4 December 2014, the agreement between LBI hf. and Landsbankinn hf. (“LB”) to extend and amend LB’s bond obligations to LBI took effect, whereby new bonds were issued to LBI by LB and a new pledge agreement covering the bonds was executed.

Today, November 17, 2014, LBI hf. and Landsbankinn hf. agreed to extend the deadline for completion of the extension and amendment of the Landsbankinn bonds to December 31, 2014.

Today, October 31, 2014, LBI hf. and Landsbankinn hf. agreed to extend the deadline for completion of the extension and amendment of the Landsbankinn bonds to November 17. 2014.

At the end of Q3 2014 cash already collected is the total equivalent of ISK 1,202bn, thereof the equivalent of ISK 716bn has already been distributed as partial payments to priority creditors (Art. 112).

On Thursday, 23 October 2014, 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 Reykjavik Natura, Nautholsvegi 52 in Reykjavík.

Yesterday, September 30, Landsbankinn and LBI agreed to extend the deadline for completion of the extension and amendment of the Landsbankinn bonds to October 24, 2014.

The Winding-up Board of LBI hf. hereby presents the Financial Information for Q2 2014

The Winding-up Board of LBI hf. hereby presents the Financial Information for Q1 2014.

LBI hf. and Landsbankinn hf. have reached an agreement on amending the terms of bonds issued by Landsbankinn hf., following discussions requested by Landsbankinn hf.

A definitive agreement has been signed by shareholders representing about 89% of the equity of Highland Group Holdings Ltd (House of Fraser) to sell their shareholding in the company to the Chinese company Nanjing Xinjiekou Department Store Co., Ltd (Nanjing Cenbest).

The Winding-up Board of LBI held a Creditors' Meeting today, 12 March 2014.

On Wednesday, 12 March 2014, 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 Reykjavik Natura, Nautholsvegi 52 in Reykjavík.

On January 16, the Supreme Court of Iceland reached verdicts in 5 cases related to voiding actions taken by LBI hf. against four counterparties in cases nrs. 191/2013, 356/2013, 359/2013, 412/2013 and 413/2013.

The Winding-up Board of LBI hf. has updated information on the estimated value of LBI's asset portfolio as of 30/09/2013.

The European Court of Justice confirms the position of LBI hf. on the validity of winding-up proceedings during the moratorium period.

On 24 September this year, the Supreme Court of Iceland pronounced its judgement in case no. 553/2013. LBI's Winding-up Board had referred the case to the courts on the basis of Art. No. 171 of the Act on Bankruptcy etc., No. 21/1991; the case was heard as a dispute in the winding-up proceedings of LBI.

The Winding-up Board of LBI held a Creditors' Meeting today, 2 October 2013.

Tuesday, sept. 24, the Supreme Court of Iceland made a judgment in case nr. Nr. 553/2013 regarding the issue which FX rates should be applied when calculating partial payments in the winding-up of LBI, made in FX, into ISK.