New claim from Islandsbanki

Islandsbanki hf. has filed a claim with the Winding-up Board of Byr Savings Bank claiming repayment of the purchase price of the shares in Byr hf.
The claim is based on that loans to customers were significantly overstated in the Bank's financial statements and not valued in accordance with generally accepted accounting principles. The amount of the claim is ISK 6.943 million plus interests and expenses, and filed as Art 110 claim (priority claim) to be set of against the bond Islandsbanki owes Byr amounting ISK 5.834 million (due in November 2014 and 2015).