Reykjavik Energy has begun the process of selling off non-core assets as part of its City of Reykjavik-led emergency bailout. Read the full story

Iceland’s Arion Bank has today advertised the convenience store chain 10-11 for sale. The bank has owned the chain since it took over the bankrupt estate of Hagar. Read the full story

Karl Wernersson, the former owner of Milestone – an Icelandic investment company, has around ISK 1 billion (USD 8.42 million) in excess of debts – which is more than any other of Iceland’s 20 biggest bank debtors. Read the full story

A court in Luxembourg has given the green light to a deal between the bankrupt estate of Landsbanki Luxembourg, Landsbanki Íslands, the Central Bank of Luxembourg and several of the bank’s biggest creditors. Read the full story

The assets of former Glitnir bosses frozen by the Reykjavik District Commissioner amount to nearly a billion kronur (USD 7.9 million) and look set to include the former bank director’s house. Read the full story

The office of Iceland’s special prosecutor into the banking crisis has for the first time used its powers to freeze personal assets. Read the full story

Local media DV.is reported today that, according to their sources, Kaupthing bank would buy Landsbanki with the back-up of the Icelandic government. According to the same source, the problems of Landsbanki have been growing since Glitnir bank was taken over by the Icelandic Government. There have been crisis meetings in closed offices around Reykjavik, the capital of Iceland, where this has been on the agenda.

There seam to be two main talks on how the banks in Iceland will be managed, the first is that Kaupthing is to buy Landsbanki and Glitnir will keep on being in the ownership of the Icelandic government, and the other is that the Icelandic government in cooperation with Landsbanki and Kaupthing will split up Glitnir’s assets and the two banks will take them over.