District Court Decision on Guaranteed Capital Claims

19.08.2015
The Disctrict Court in Reykjavik has ruled and rejected claims that were made for guaranteed capital.
Skarðshyrna, an Icelandic limited liability company, filed three guaranteed capital claims (no 266, 267 and 268).  One claim was for guaranteed capital to be treated as a priority claim (Art 112) and two claims were for it to be treated as a general claim (Art 113).  The Winding-up Board rejected the claims and Skarðshyrna took the case to the District Court.
 
On 23 July 2015 the District Court of Reykjavík ruled in favor of the Winding-up Board and rejected the claims made by Skarðshyrna.  District Court case no X-165/2013.  Skarðshyrna did not appeal this ruling to the Supreme Court within the time limit it had, so the ruling is final.
 
The ruling covers various questions that have been raised by creditors who have filed claims for guaranteed capital.