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KSF Megathread 2


nipper

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Depositors in Kaupthing Singer and Freelander Isle of Man have been informed by their Icelandic lawyers that the appeal in relation to the parental guarantee has been won by KSFIOM.

The Supreme Court of Iceland has ruled that the guarantee signed by the Icelandic CEO on behalf of Kaupthing hf was valid and binding on the bank. KSFIOM's claim was acknowledged pursuant to its claims before the Supreme Court, under Article 113 of the Bankruptcy Act.

 

The judgment was handed down today, 10 June 2011, and is posted (in Icelandic) on the Court website here: www.haestirettur.is/domar?nr=7446

The decision of the Supreme Court is final.

 

This is obviously good news, but it does nothing to change the fact that depositors have suffered years of uncertainty and doubt as a result of the dilatory performance of the very institutions and authorities tasked with their protection.

 

KSFIOM depositors continue to call on the authorities to put an end to their waiting now by implementing the proposed loan trust [http://www.ksfiomdag.com/index.php?option=com_kb&task=article&article=161]

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