Due to technical difficulties it was not possible to dial-in to the informal meeting with Lord Eatwell. Lord Eatwell’s presentation will be made available on Glitnir’s website as soon as possible.
On 19 July 2011 the Icelandic Financial Supervisory Authority (the “FSA”) revoked the banking licence of Glitnir Banki hf., meaning it had to change its name from “Glitnir Banki” to “Glitnir”. However, the FSA granted Glitnir a temporary exemption from changing its website address and its employees’ email addresses.
With effect from 1 November 2013, Glitnir’s official website address and the email addresses of its employees will change from glitnirbank.com to glitnir.info,although emails to, and website searches of, glitnirbank.com will be re-directed to the new glitnir.info address.
As announced at the Open Creditors‘ Meeting on 23 October 2013, Lord Eatwell will present his independant report on macroeconomic balances and capital account liberalisation in Iceland, at an informal creditors´meeting at 14:30 (GMT) on 5 November 2013. The meeting is scheduled to end at 16:30 (GMT) and will include time for questions from the floor.
The meeting will be held at :
The Newgate Suite
The Mermaid Conference and Eventes Centre
Puddle Dock
Blackfriars
London, EC4V 3DB
United Kingdom
The meeting is open to creditors of Glitnir and the press amongst others and attendees are asked to register by email to This email address is being protected from spambots. You need JavaScript enabled to view it. A dial-in number will be provided for those not able to attend the meeting in person, and dial-in arrangements will be published closer to the meeting.
Glitnir hereby presents a summary of Glitnir's Current Business plan (BP) which is based on an opening position of 30 June 2013. The cash flow and the cash balance at the end of each year are presented in three categories; 1) ISK, 2) FX from domestic counterparties, and 3) FX from foreign counterparties.
Please also note however that the cashflows exclude the monetisation of Íslandsbanki, which is too uncertain to make reliable assumptions on regarding quantum, timing and currency. Glitnir would also like to draw attention to the other important accompanying notes and risk factors set out in the presentation.
Glitnir_Business_Plan_23_October_2013.pdf
The Winding-up Board (the “Winding-up Board”) of Glitnir hf. (“Glitnir”) announced on 20 September 2012 that, as part of its planning for a potential composition proposal, it had identified Jan Kvarnström as the prospective chairman of the post-composition board of directors of Glitnir, and had entered into a consultancy agreement with him to cover the period prior to the composition becoming effective.
At that time, it had been anticipated that Glitnir would shortly be able to propose a composition to its creditors for their approval. In that respect an application (the “Application”)was made on 28 November 2012 to the Central Bank of Iceland (the “CBI”) for an exemption from the Foreign Exchange Act. No. 87/1992 in order to proceed with the proposed composition which was detailed in the Application. However, and as the Winding-up Board recently announced, the first response to the Application was only received from the CBI on 23 September 2013. Although the Winding-up Board is seeking to arrange a meeting as soon as possible with the CBI to discuss the Application, it is not currently clear when it will be possible to proceed with a composition.
As announced on Friday 6 September 2013, an informal meeting of the creditors’ of Glitnir hf. („Glitnir“) will be held at Moelis & Company, 399 Park Avenue, 5th Floor, New York, NY 10022, USA at 10:00 a.m. (EST) on 8 October 2013. The purpose of the meeting will be to provide creditors with a short briefing in relation to amongst other:
Any creditor who wishes to attend this meeting should send an email confirming his or her attendance to This email address is being protected from spambots. You need JavaScript enabled to view it.. For security reasons meeting attendees are asked to bring an ID, a reference to a claim number and allow for extra time for check- in at the meeting location. A dial-in number will be provided for those not able to attend the meeting in person, and dial-in arrangements will be published closer to the meeting.
For the Winding-up Board of Glitnir hf.
Steinunn Guðbjartsdóttir, Supreme Court attorney
Páll Eiríksson, District Court attorney
Due to the open creditors meeting on 23 October 2013 the Winding-up Board of Glitnir hf. will not issue new Notices of Successful Transfers from 9 October 2013 until, and including, 24 October 2013. The open creditor 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 from 25 October 2013.
The Central Bank of Iceland (“CBI”) has sent a letter to the Winding-up Board (the “CBI Letter”)., dated 23 September 2013
The CBI Letter is the first response to the application which the Winding-up Board made on 28 November 2012 for an exemption from the capital controls under the Foreign Exchange Act No. 87/1992 in order to proceed with a proposed composition which was detailed in that application.
It also responds to a request which the Winding-up Board submitted to the CBI on 27 August, 2013 to engage in an orderly process to discuss how the composition of the Glitnir estate might be resolved.
While the contents of the letter indicate potential misunderstandings about the terms of Glitnir’s proposed composition, the Winding-up Board welcomes the Governor’s statement that the CBI is now prepared to discuss Glitnir’s detailed ideas to address any outstanding issues relating to the impact of the proposed composition on Iceland’s financial stability.
Having consulted with representatives of the informal creditors committee and having taken account of their views, the Winding-up Board is in the process of responding to the Governor and will be requesting that a meeting be arranged for as soon as possible.
For the Winding-up Board of Glitnir hf.
Steinunn Guðbjartsdóttir, Supreme Court attorney
Páll Eiríksson, District Court attorney
The Winding-Up Board of Glitnir hf. announces that an informal creditors’ meeting will be held at Moelis and Company, 399 Park Avenue, 5th Floor, New York, NY 10022, USA at 10:00 a.m. (EST) on 8 October 2013. Any creditor who wishes to attend this meeting should send an email confirming his or her attendance to This email address is being protected from spambots. You need JavaScript enabled to view it.. A dial-in number will be provided for those not able to attend the meeting in person, and dial-in arrangements will be published closer to the meeting.
For the Winding-up Board of Glitnir hf.
Steinunn Guðbjartsdóttir, Supreme Court attorney
Páll Eiríksson, District Court attorney
The Winding-Up Board of Glitnir herby present the Financial information for Q2 2013.
Annual General Meeting, 26 April 2017 at 2pm