Status of the composition proposal
The Winding-up Board has now received votes from 92% of the composition creditors, which represent 97,5% of the composition claims, all voting in favor of the composition. No negative votes have been received. In light of the large majority of votes supporting the composition the Winding-up Board will use the next 2 weeks to attempt to collect the outstanding votes and proxies. The Winding-up Board is also hopeful to receive the requested permission from the Central Bank of Iceland to transfer the payments according to the composition. When all votes have been collected and the permission from the Central Bank is granted the Winding-up Board will summon a composition meeting.
Extension of deadline
The Winding-up Board is pleased to announce that it has now received responses from a large majority of creditors of SPB hf., which all have voted in favor of the proposed composition. However, few creditors have not yet been able to cast their votes and several original voting documents remain to be received. Furthermore, the Central Bank of Iceland has not yet given its permission to transfer the payments according to the composition. The Winding-up Board has therefore decided to extend the deadline to vote for the composition for two weeks or until 19th of April 2013.
Composition proposal for creditors of SPB
The Winding-up Board is pleased to announce that composition documents have been sent via mail to all composition creditors of SPB as of today. The documents can also as of now be accessed at the creditors´ site of SPB´s webpage, www.spb.is.
With a decision made on the 21st of March 2009, the Financial Supervisory Authority (FME) assumed the power of a shareholders meeting of SPB (formerly Icebank). On the 27th of March FME appointed a Resolution Committee for SPB, which has taken over all authority of the Board of Directors in accordance with the articles of Company Law - Act No. 2/1995 Respecting Public Limited Companies, in accordance with Article 100 a of the Act on Financial Undertakings.
Transfer of Claims
From 3 November 2009 if a creditor wishes.....