Bloomberg News

Landsbanki Asset Value Rises $589 Million, 43% of Claims Paid

May 31, 2012

Assets held by failed Icelandic lender Landsbanki Islands hf rose by 77 billion kronur ($589 million) as of March 31 from the previous quarter, its winding up committee said today in a statement on its website.

Most of the gain is due to the bank’s sale of Iceland Foods Ltd., it said. The bank has paid 43 percent of all priority claims and the committee estimates Landsbanki’s assets exceed all such claims by 122 billion kronur, it said.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik valdimarsson@bloomberg.net.

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net.


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