8,685 Claims Lodged in Glitnir’s Winding-up
Glitnir’s Winding-up Board has published the list of claims lodged in Glitnir’s winding-up proceedings on a restricted area of the bank's website to which creditors have access. Creditors who have lodged claims can also access the list of claims at Glitnir’s offices at Sóltún 26 in Reykjavík.
The time limit for lodging claims in Glitnir’s winding-up proceedings expired on 26 November and at a creditors’ meeting on 17 December, the Winding-up Board will go over the list of claims and explain the decisions which have already been taken. Creditors will also have an opportunity to object to decisions taken by the Winding-up Board on individual claims.
A total of 8,685 claims were lodged in Glitnir’s winding-up proceedings amounting to ISK 3,436 billion, based on exchange rates as quoted by the Central Bank of Iceland on 22 April 2009. This is a maximum figure, which may decrease as the Winding-up Board reviews the individual claims. In addition, in some instances the same claim has been lodged more than once. Among the largest creditors are foreign financial and banking institutions, on the one hand, and other bond holders, on the other hand.
Claims for wages are relatively few in Glitnir’s winding-up proceedings, as most of the bank’s general employees have already received payment. The Winding-up Board has decided to refuse priority to wage claims by the bank's managing directors and to claims arising from so-called wholesale and money market deposits. The claims for bonuses have also been rejected. In addition, the Winding-up Board has rejected claims that subordinated bonds have the status of general claims. These number some 2300 claims, totalling close to ISK 180 billion.