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Creditors meeting – 3 March 2015

The next creditors' meeting is scheduled for Tuesday, 3rd of March 2015, at 10:00 am at Hilton Reykjavík Nordica Hotel, Suðurlandsbraut 2, Reykjavik, Iceland. Creditors in the winding-up process of Glitnir hf. are entitled to attend the meeting.

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Meeting with the representatives of the Government

The Winding-up Board, together with the Winding-up Boards of Kaupthing and LBI, has had a constructive meeting today with representatives of the Government and its advisers to discuss its ideas for the resolution of the estate in the context of Iceland’s plans to release capital controls. Following that meeting, the Winding-up Board met separately with the representatives of the Government and its advisers to explain its proposals in greater detail.  

The Winding-up Board sees these meetings as an important step and believes it is in all parties’ interests to continue this dialogue, so as to achieve a consensual resolution to the estate’s winding-up proceedings by way of a composition and the lifting of capital controls. Á íslensku

 

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9 December 2014 Meeting

The Winding-up Board of Glitnir has been invited to meet together with the Winding-up Boards of Kaupthing and Landsbanki and the implementation group which is assisting the Government’s steering committee on the release of capital controls on Tuesday 9th December 2014.  The Winding-up Board welcomes this development and has accepted the invitation and will be attending with its advisers and advisers to the principal creditors.

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Bankruptcy Petition

A petition for bankruptcy of Glitnir has been filed with the District Court of Reykjavik by a small creditor.  The Winding-up Board presented its views at the open creditors’ meeting on 20 November 2014 that a composition remains in the best interests of all creditors.  No objections were presented at that meeting.  The Winding-up Board will be responding to this petition through the courts in due course.
Further information on these matters will be provided at the open creditors’ meeting on 18th December 2014.

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Temporary halt of claim transfer recognition due to creditors meeting on 18 December 2014

Due to the open creditors meeting on 18 December 2014 the Winding-up Board of Glitnir hf. will not issue new Notices of Successful Transfers from 4 December 2014 until, and including, 18 December 2014. The open creditor meeting will not affect other notices sent from the Winding-up Board or its transfer agent, Epiq Bankruptcy Solutions, LLC, in the transfer process of requested transfers. Notices of successful transfers will be issued from 19 of December 2014.

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Creditors meeting – 18 December 2014

The next creditors' meeting is scheduled for Thursday, 18th of December 2014, at 10:00 am at Hilton Reykjavík Nordica Hotel, Suðurlandsbraut 2, Reykjavik, Iceland. Creditors in the winding-up process of Glitnir hf. are entitled to attend the meeting.

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Open Creditors Meeting of Glitnir hf. on 20 November 2014

Glitnir hf. wants to remind creditors of the Open Creditors Meeting that will take place at Hilton Hotel Nordica, Sudurlandsbraut 2, on Thursday 20 November 2014 at 10:00 am. The meeting agenda has been made available for all creditors on the secured website of Glitnir hf. along with the List of Claims, List of Changes and proposals that will be submitted at the meeting. Á íslensku

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Temporary halt of claim transfer recognition due to creditors meeting on 20 November 2014

Due to the open creditors meeting on 20 November the Winding-up Board of Glitnir hf. will not issue new Notices of Successful Transfers from 6 November until, and including, 20 November 2014. The open creditor meeting will not affect other notices sent from the Winding-up Board or its transfer agent, Epiq Bankruptcy Solutions, LLC, in the transfer process of requested transfers. Notices of successful transfers will be issued from 21 of November 2014.

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Statement og Assets and Liabilities 30 June 2014

Glitnir hereby presents the Statement of Assets and Liabilities as of 30 June 2014.  The presentation also includes a summary of Glitnir´s Current Business plan (BP) which is based on an opening position of 30 June 2014.  The estimated cashflow in the BP at the end of each year are presented in three categories; 1) ISK, 2) FX from domestic counterparties, and 3) FX from foreign counterparties.

pdfGlitnir Statement of Assets and Liabilities 30 June 2014

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Registration for Informal Creditors' Meeting on 26 June 2014

As announced on 6 June 2014, an informal creditors' meeting will be held at W New York, 541 Lexington Avenue, New York 10022, NY, USA at 10:00 a.m. (EST) on 26 June 2014. The purpose of the meeting will be to provide creditors with a short briefing in relation to amongst other:

• Composition update
• Communication / process update
• Islandsbanki update
• Financials update
• Next steps and timeline
• Q&A

Any creditor who wishes to attend this meeting should send an email confirming his or her attendance to This email address is being protected from spambots. You need JavaScript enabled to view it.. For security reasons you are asked to bring an ID, a reference to a claim number and allow for extra time for check-in at the meeting location. If you are representing a creditor we ask you to bring a reference to a claim number registered in your client's name.

For those creditors unable to attend the meeting in person, dial-in instructions have been sent to all registered email addresses for creditors of Glitnir. Please note that only creditors of Glitnir and their representatives are permitted to dial-in to the meeting and, as such, will be required to register their institution (as applicable) before being permitted to join the meeting. Parties dialing in to the meeting will only be able to listen to the proceedings and will not be permitted to ask questions. During breaks, creditors must remain on the line to continue listening upon re-convening of the meeting.

For the Winding-up Board of Glitnir hf.

Steinunn Guðbjartsdóttir, Supreme Court Attorney
Páll Eiríksson, District Court Attorney

On the Agenda

Creditors meeting – 3 March 2015