This is the official site of Byr Savings Bank during its winding up.
Byr Savings Bank
Gunnar Þór Þórarinsson, Chairman
General inquiries: ByrWindingUp@gmail.com
The last general meeting was the Annual General Meeting held on 28 March 2017. The AGM decided to have an Extraordinary General Meeting within eight weeks to discuss a new directors compensation scheme. A date for the EGM has not been set.
Name and legal form pre winding up
Byr Savings Bank was a Bank with the legal form of a not-for-profit organization and complied with Act no 161/2002 on Financial Institutions. The Company was owned by its 1.547 guarantee capital holders.
Name and legal form post composition
The name has been changed from Byr Savings Bank to Old Byr ses. The tax number is the same. The legal form is also the same, a not-for-profit organization, but as it is no longer a Bank it complies now with Act no 2/1995 on Limited Liability Companies. The Company is owned by Old Byr Holding ehf.
Creditors of Byr Savings Bank are now shareholders in Old Byr Holding ehf. In addition to the shares, they also received EUR non-interest bearing debt instrument issued by Old Byr ses. Distributions to creditors will be by repayment of the debt instrument and, if assets exceed the debt instrument, by dividends. Distributions, both timing and amount, are dependend on the outcome of the two outstanding disputes (with Íslandsbanki hf. and Héðinsreitur ehf.).
Transfer of claims
For information and forms on transfer of shares and debt instruments, please see this link.