Correction of a news report on THM

The Winding-up Board of Glitnir wants to make it clear, because of the inaccuracy of a news report by Morgunbladid, on Thursday 9 January 2013,  that no plans have been made to “hire a new financial advisor instead of the UK  firm Talbot Hughes & McKillop…”

THM is the Financial Advisor (FA) on behalf of all the creditors in Glitnir engaged by the Informal Creditors’ Committee (ICC). No indication has been received from creditors that THM does not enjoy their support  and accordingly  THM will continue in its current role going forward.

Furthermore, there is reason to emphasize, because of statements to the contrary in the newspaper, that Glitnir has twice presented the Central Bank of Iceland with detailed proposals concerning settlement of the estate, including a request for exemption from the law on capital controls. The proposal presented on 18 November 2013 was designed, as quoted on Glitnir’s homepage, “to fulfil the financial conditions in Icelandic law which stipulate that monetary and exchange rate stability should not be jeopardized, as outlined by the Central Bank in its letter of 23 September 2013”. 

A response to the latest proposal is still awaited.   Á íslensku