Supreme Court confirms District Court verdict
Yesterday, September 16th 2010, the Supreme Court ruled in the case concerning which interest rates to use to settle an FX linked car loan. The verdict confirmed the verdict of the District Court, that the lowest Central Bank rates at each interest date should be used to calculate the outstanding balance. This is a result that was expected by the RC and corresponds with the work currently being done to settle the Íslandsbanki car loans.