Practice Areas - Restructuring and Insolvency Law Firms and Lawyers
| Deal Date: | 06-11-2015 | Practice Area: | Restructuring and Insolvency |
| Deal Title: | Winding-up Board of Glitnir - Composition with Creditors | Industry: | Banks |
| Description: |
Slaughter and May advised the Winding-up Board of Glitnir hf. on a proposed composition with its creditors (the Composition).
Glitnir hf. (Glitnir) was one of the three major Icelandic banks which were brought under the control of the Icelandic government in October 2008 following their collapse in the global financial crisis. The total claims against the Glitnir estate amounted to more than ISK 2,250 billion. The Winding-up Board was appointed in May 2009 to conduct the winding-up proceedings.
The full terms of the proposed Composition were announced on 6 November 2015 and represented the culmination of extensive engagement with Glitnir's creditors and their representatives, Icelandic governmental authorities and other stakeholders over the past five years.
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| Financial Center: | London | Value: | 0.00-0.00 |
| Advised Party: | Group | Law Firm | Slaughter and May |
| Iceland | Iceland | ||
| Classification: |
Debt Restructuring |
Lawyer | Richard de Carle |
