On 2 July 2010 the District Court of Reykjavik ruled that a winding-up process should start for Byr Savings Bank.
The ruling was based on a request from the Interim Board of the Bank.
In accordance with paragraph 4 of Article 101 of Act no. 161/2002 on Financial Undertakings, the District Court of Reykjavik appointed three members to the Board.
Winding-up Board members are:
- Eva Bryndís Helgadóttir, Supreme Attorney, Chairman
- Árni Ármann Árnason, Supreme Attorney
- Ágúst Kristinsson, Certified Public Accountant
The main task of the Winding-up Board is to maximize the Bank's assets and handle the claiming process.
End of Winding-up Board
The role of the Winding-up Board came to an end on 8 January 2016 when the District Court of Reykjavik confirmed a composition for the Bank