More Claims Made to Kaupthing than Other Banks Skip to content

More Claims Made to Kaupthing than Other Banks

It is estimated that between 27,000 and 29,000 claims have been sent to the bankrupt estate of Kaupthing, now Arion Bank. Approximately 21,000 claims were received by the other two large commercial banks, Glitnir, now Íslandsbanki, and Landsbanki, now NBI.

The headquarters of Kaupthing in Reykjavík. Copyright: Icelandic Photo Agency.

The amount of claims is according to expectations, lawyer Ólafur Gardarsson who has a seat on the Kaupthing resolution committee, told Fréttabladid.

“We were expecting up to 30,000 claims to the bank. Most of the claims come from Germany, savers making interest claims because of deposits that have already been paid,” Gardarsson described.

Around 30 people have been working on the reception and registration of claims in the past week and have already registered 23,000 claims. The deadline for making claims was December 30.

The highest claim that has been registered is ISK 200 million (USD 1.6 million, EUR 1.1 million) and the lowest claim EUR 2 (USD 3).

The Kaupthing claimant registry will be published on January 22. It is possible that many of the claimants will be similar as in Glitnir where American investment funds which had bought commercial papers in the old banks after they collapsed were prominent.

A number of claims made to the bankrupt estate of Glitnir were by mistake sent to Ireland instead of Iceland. As a result the deadline of November 26 was extended and so these claims will not be dealt with, revealed.

Páll Eiríksson at the Glitnir resolution committee said around 100 claims were received late and that claims are still being received. Some of them are worth as much as USD 1 million (EUR 693,000).

Eiríksson said he expects that some of the claimants whose claims were delayed will take their cases to court.

Click here to read more about claims made to Glitnir and here to read more about claims made to Landsbanki.

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