Biggest claimants on old Icelandic banks revealed

glitlandsthingThe biggest single claimant on the estate of Glitnir Bank is Burlington Loan Management from Ireland. The company is also among the biggest claimants at Kaupthing and is seeking roughly ISK 220 billion (USD 1.7 billion).

This information comes from a reply from Gylfi Magnusson, the Icelandic Minister for Economic Affairs, to Einar K. Gudfinnsson’s question on the subject of Glitnir and Kaupthing debt claims.

The second biggest claimer to the estate of Glitnir is the Royal Bank of Scotland with ISK 130 billion. RBS is followed by Germany’s Deka Bank and Credit Agricole from France. Next is an American company with an Icelandic name: Thingvellir Fund, which is claiming ISK 56 billion in Glitnir and a hundred billion in Kaupthing. Little is known about the company.

Deutsche Bank is claiming ISK 900 billion in Kaupthing and the Minister confirms that around 60 percent of that figure has now been sanctioned, or ISK 580 billion. The bank’s resolution committee has also sanctioned ISK 93 billion of the Central Bank of Iceland’s ISK 350 billion claim. These two banks are by far the biggest claimants, RUV reports.

Glitnir plans to finish examining claims, sanctioning them and provisionally apportioning payouts to claimants by the end of the year; but it is not known when Kaupthing will complete the task.

Comments are closed.