Announcement regarding the selection of a candidate for chairman of the post-composition board of Glitnir
The Winding-up Board (the “Winding-up Board”) of Glitnir hf. (“Glitnir”) has identified a candidate for the role of chairman of the post-composition board of directors, as part of the planning for a potential composition proposal, which would see Glitnir exit the winding-up process.
If a composition proposal is approved by the requisite majority of Glitnir’s creditors, the proposed chairman, along with other members of a proposed board of directors, would be nominated at a shareholders’ meeting held at a later date. The board of directors would then be constituted and play a key role in the preservation and return of value to the creditors. Á íslensku