Under the agreement between the Government and the Resolution Committee, signed on September 13th 2009, the Resolution Committee had until 30 September 2009 to decide whether to acquire control of 95% of shares in Islandsbanki or to accept compensation in the form of bond instruments to be issued by Islandsbanki.
Islandsbanki has now submitted necessary recent financal information of the bank. The Resolution Committee wishes to have more time to evaluate the information and to consult with creditors before arriving at a final decicion.
The Ministry of Finance has also decided that further extensions will not be granted.
