Iceland’s Official Statement on Icesave Court Case Skip to content

Iceland’s Official Statement on Icesave Court Case

icesave-logoThe EFTA Surveillance Authority (ESA) has [on December 14] issued a press release stating that it will refer to the EFTA Court a dispute regarding the alleged breach of Iceland of the Deposit Guarantee Directive.

The winding-up board of Landsbanki has stated that the estate of Landsbanki Íslands will have assets to pay in full [all] priority claims, which are mostly deposits.

The first payments were made by the estate on 2 December. Therefore, the government has held the view that a court case is not called for.

The EFTA Court is, however, the multinational court that can give a final decision regarding possible issues of EEA-law in this dispute.

The Government of Iceland has submitted its arguments to the ESA in the process so far, and will continue its defense in the due process before the EFTA Court.

Click here to read more about the government’s reactions to the ESA’s decision.


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