(PRESS RELEASE from the Kaupthing resolution committee:)

The Resolution Committee of Kaupthing Bank contributes up to ISK 66 billion in common equity Read the full story

Foreign creditors of Old Kaupthing Bank will take the lion’s share of Arion Bank (formerly New Kaupthing). RUV reports this will be officially announced by the bank some time today. Read the full story

The deadline expires today for Old Kaupthing Bank to decide whether it wants to take an 87 percent stake in Arion Bank (formerly New Kaupthing). If it decides to take Arion on, the Icelandic government would only be left as the majority shareholder in New Landsbanki. Read the full story

Representatives of a large investment group wishing to buy Iceland’s Hagar retail business say they have been locked out, claiming to be disappointed on behalf of the man on the street. Read the full story

The alleged embezzlement of tens or hundreds of millions of Icelandic kronur by a staff member at Old Kaupthing Bank is under police investigation. The woman accused of misappropriating the funds was sacked when the issue first came to light. Read the full story

Press release from Arion Banki: From yesterday, 21 November 2009, New Kaupthing Bank changed its name to Arion banki. The new name signals a new direction and new values. Following the restructuring of the bank in the recent economic turmoil at home and abroad, the bank is shifting its focus in response to the demands for change made by its customers and employees. A new name will also help eliminate any confusion among the public and the bank’s business partners in Iceland and abroad. Read the full story