Investment and holdings companies in Iceland have had 83 percent of their debts written off since a law was passed on helping indebted individuals, households and companies following the 2008 banking crash up to 30th September last year. Read the full story

Actavis Group, the international generic pharmaceuticals company headquartered in Iceland, yesterday announced it has successfully agreed a debt refinancing in collaboration with its lenders. Read the full story

An agreement has been reached that will put Islandsbanki 95 percent in the hands of Glitnir’s foreign creditors. Morgunbladid reports that the decision will be presented at a press conference later today. The Icelandic state will retain a five percent stake in the bank and will have one representative on the board of directors, according to the paper. Read the full story

PRESS RELEASE FROM STRAUMUR BURDARAS BANK:

On 19 March, 2009 Straumur Burdaras Investment Bank hf. (Straumur) requested an authorisation for a moratorium process from the District Court of Reykjavík. The process would enable Straumur to facilitate a financial and operational restructuring in co-operation with the bank’s creditors. Read the full story