01 Apr2011
Glitnir - wholesale depositor District Court judgement
The Reykjavik District Court handed down its judgement this morning on the wholesale depositors priority claims in both Landsbanki and Glitnir. In summary the District Court found that these claims do have priority status and, in the case of Glitnir, upheld the objections made by those creditors claiming priority status to the rejection of the priority status decision made by the Glitnir Winding Up Board.
The Winding up Board and its legal advisers have considered the detail of the judgement and will confirm publically over the next few days that they are to lodge an appeal with the Supreme Court in Iceland. As noted previously, the Winding Up Board considered that whichever party was unsuccessful at first instance would likely make an appeal to the Supreme Court.
The Winding up Board and its legal advisers have considered the detail of the judgement and will confirm publically over the next few days that they are to lodge an appeal with the Supreme Court in Iceland. As noted previously, the Winding Up Board considered that whichever party was unsuccessful at first instance would likely make an appeal to the Supreme Court.