Icelandic Press Release

  • frog
  • 10/10/08 13/09/09
  • a depositor
  • Offline
Posted: Mon, 17/11/2008 - 23:34

Just put into the news section, there is a significant comment:

"Furthermore, it is recognized that the payment by the new banks of the fair value for the assets transferred from the old banks is a key factor in the fair treatment of depositors and creditors in the intervened banks"

This is interesting because it means that the assets in the three banks will not be valued at fire-sale prices, but fair market value - which must be higher. This means also that the cash replacing the assets will be available much sooner (as the IMF and other governments are paying cash).

Why is this important? Well if Kaupthing UK have assets in Kaupthing hf - which is quite likely, then the amount recovered will arrive sooner and be worth more - meaning a higher distribution to Kaupthing UK's creditors (which includes Kaupthing IOM).

So - good news.

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Press release

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
  • Offline
  • Tue, 18/11/2008 - 02:09

Please put the title the you entered in the NEWS section - It just makes it easier to find !!
Many thanks

New Icelandic banks assets total 2Billion Euros

  • dawes
  • 24/10/08 31/05/09
  • unspecified
  • Offline
  • Tue, 18/11/2008 - 12:01

According to Icelandic reports, thats how much was transferred over.

Julienne, this is already in the news section.