News & Events

15.11.2013 : District Court ruling in Glitnir´s dispute with ALMC

On 14 November, the District Court of Reykjavík released its judgement in Glitnir‘s dispute with ALMC concerning settlement of derivative contracts between the two parties. The ruling is in favour of ALMC. The ruling can be appealed to the Supreme Court within the next two weeks and ALMC expects that Glitnir will appeal. Should the Supreme Court confirm the District Court ruling, ALMC's recovery estimates will be positively impacted by an estimated 0.8%.

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8.5.2013 : Judgement in the Landsbanki case

Today, the Supreme Court of Iceland released its judgement in Landsbanki´s dispute with ALMC by confirming the ruling of the District Court of Reykjavík from 14 March (see press relaease). This ruling is in favour of ALMC and is in line with ALMC's expectations and does not impact estimated recovery to bondholders. Lesa meira

21.3.2013 : ALMC 2012 Review - Meeting Invitation

ALMC's bondholders are invited to attend a meeting on 17 April 2013 at 10.00 am (London time) at the offices of Hogan Lovells International LLP in London.

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14.3.2013 : District Court ruling in Landsbanki dispute

Today, the District Court of Reykjavik released its judgement in Landsbanki´s dispute with ALMC. The dispute mainly concerned a set-off of bonds issued by Landsbanki worth €133m and owned by ALMC. The District Court ruled in favour of ALMC regarding the bond set-off. The ruling can be appealed to the Supreme Court within the next two weeks. If neither party appeals within that period the ruling is final. This ruling is in line with ALMC's expectations and does not impact estimated recovery to bondholders. Lesa meira




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