The Company .. Read more

 

Byr Savings Bank was Iceland's fourth largest bank.

 

It went into a winding up proceedings on 22 April 2010, with a decision of the Financial Supervisory Authority (FME).

 

The process concluded with a composition, which was approved by creditors on 9 December 2015 and confirmed by the District Court of Reykjavik on 8 January 2016.

 

All assets have been liquidated and the only asset the Company has today is cash.  It can however not been distributed to creditors (now shareholders), as there are two outstanding disputes (with Íslandsbanki hf. and Héðinsreitur ehf.) and the total amount in dispute is higher than the total assets of the Company.