The Winding-Up Board of Glitnir hereby presents the Financial Information for Q1 2015.

Glitnir Q1 2015 Financial Information 31 March 2015

Hagfræðingarnir, Dr. Ásgeir Jónsson og Dr. Hersir Sigurgeirsson, kynntu á blaðamannafundi í dag í Reykjavík skýrslu er þeir nefna „Drög að uppgjöri". Í henni er fjallað um hvaða kostir eru í stöðunni til þess að ljúka slitameðferð föllnu bankanna og greiða út kröfur án þess að raska greiðslujöfnuði Íslands.
Allur kostnaður við gerð skýrslunnar var greiddur af slitastjórn Glitnis, sem óskaði eftir gerð hennar í upphafi árs. Höfundar bera sjálfir alla ábyrgð á ályktunum og niðurstöðum í skýrslunni.

Skýrslan

The report, „An Outline of a Resolution", was presented today at a press conference in Reykjavík, by its two authors, economists Dr. Ásgeir Jónsson and Dr. Hersir Sigurgeirsson. The report charts up the possibilities for the estates of the failed Icelandic banks to pay out claims, without adversely affecting the balance of payment situation of Iceland.
The Winding-up Board of Glitnir requested and financed the making of the report. Opinions and conclusions in it are at the sole responsibility of the authors.

Here below is an English summary of the Icelandic report.

Summary

Glitnir hereby announces its intention to dispose of its K/S portfolio and its shares in the Luxembourg-based asset manager, Reviva Capital S.A. Glitnir has mandated KPMG to assist in the sales process and interested parties should contact the relevant individuals below.

The next creditors' meeting is scheduled for Tuesday, 8 September 2015, at 10:00 am at Hilton Reykjavík Nordica Hotel, Suðurlandsbraut 2, Reykjavik, Iceland. Creditors in the winding-up process of Glitnir hf. are entitled to attend the meeting.

Glitnir hereby presents the Statement of Assets and Liabilities as of 31 December 2014 and the audited Financial Statements 2014. The presentation also includes a summary of Glitnir´s Current Business plan (BP) which is based on an opening position of 31 December 2014.

• Glitnir Financial Statement 2014
• Glitnir Statement of Assets and Liabilities

Due to the open creditors' meeting on 3 March 2015 the Winding-up Board of Glitnir hf. will not issue new notices of successful transfers from 18 February 2015 until, and including, 3 March 2015. The open creditors' meeting will not affect other notices sent from the Winding-up Board or its transfer agent, Epiq Bankruptcy Solutions, LLC, in the transfer process of requested transfers. Notices of successful transfers will be issued again from 4 March 2015.

The Winding-up Board of Glitnir hf announces, in response to press commentary about its subsidiary Islandsbanki hf, that there is continuing non-binding interest from a number of potential purchasers of Islandsbanki hf, but no sale is imminent. Discussions are continuing with interested parties.

The next creditors' meeting is scheduled for Tuesday, 3rd of March 2015, at 10:00 am at Hilton Reykjavík Nordica Hotel, Suðurlandsbraut 2, Reykjavik, Iceland. Creditors in the winding-up process of Glitnir hf. are entitled to attend the meeting.

The Winding-up Board, together with the Winding-up Boards of Kaupthing and LBI, has had a constructive meeting today with representatives of the Government and its advisers to discuss its ideas for the resolution of the estate in the context of Iceland’s plans to release capital controls. Following that meeting, the Winding-up Board met separately with the representatives of the Government and its advisers to explain its proposals in greater detail.  

The Winding-up Board sees these meetings as an important step and believes it is in all parties’ interests to continue this dialogue, so as to achieve a consensual resolution to the estate’s winding-up proceedings by way of a composition and the lifting of capital controls. Á íslensku

The Winding-up Board of Glitnir has been invited to meet together with the Winding-up Boards of Kaupthing and Landsbanki and the implementation group which is assisting the Government’s steering committee on the release of capital controls on Tuesday 9th December 2014.  The Winding-up Board welcomes this development and has accepted the invitation and will be attending with its advisers and advisers to the principal creditors.