Exista’s Debt to Be Called in by Icelandic Claimants Skip to content

Exista’s Debt to Be Called in by Icelandic Claimants

The largest domestic claimants in Icelandic investment company Exista, the old commercial banks Glitnir, Landsbanki and Kaupthing, in addition to New Kaupthing, are planning to call in Exista’s entire debt as early as today.

Copyright: Icelandic Photo Agency.

If Exista is unable to pay the claims, its board will have to decide whether a moratorium on its payments should be requested, Morgunbladid reports.

The largest shareholders in Exista, Lýdur and Ágúst Gudmundsson, told Morgunbladid that Exista had made an agreement with foreign claimants, 37 banks, in the beginning of April on the company’s reorganization with the goal of Exista being able to pay back the claims fully and more than that.

According to Morgunbladid’s sources, domestic claimants other than the pension funds, consider these plans unrealistic.

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