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%.