Landsbanki Luxembourg in liquidation

Liquidation proceedings

In accordance with Article 61-1 of the Law of 5 April, 1993 on the financial sector, as amended, the District Court of Luxembourg ("Court") has ordered the liquidation of Landsbanki Luxembourg S.A. ("LLUX") and has appointed Me. Yvette Hamilius as Liquidator.

Information about various aspects of the liquidation process can be found on this web site, which will be updated from time to time, as deemed appropriate by the Liquidator.

IMPORTANT ANNOUNCEMENT

June 9, 2011 - Dividend payment

We are please to announce that Landsbanki Luxembourg SA in liquidation has today paid all admitted creditors a 100% dividend.

Exceptions are the following:

  • Subordinated creditors;
  • Creditors with unprocessed claims (around 10 claims);
  • Admitted creditors with missing or incomplete bank details;
  • Creditors admitted on Court List 17, which was submitted to Court on June 1, 2011.

If you fall into the third or fourth category, the Liquidation team will be contacting you shortly to complete our files with bank details and/or other formalities. We hope to pay these categories of creditor in the coming weeks.

Unprocessed claims will now be treated, and if accepted, they will be submitted to the District Court in October 2011.

If you have not received your dividend payment, please contact the Customer Relations team, by email, at customerrelations@landsbanki.lu. We will try to deal with your enquiry in the shortest possible delay.

Previous Announcements

  • February 9, 2011 - Dividend declared

    By order of February 7, 2011 the District Court of Luxembourg sitting in commercial matters, 15th Chamber, has declared that a dividend of 100% may be paid to unsecured creditors whose claims have been admitted to the liabilities of the judicial liquidation of Landsbanki Luxembourg SA, with its registered office at 2-4, rue Beck, L-1222 Luxembourg.

    This same court order, provisionally enforceable, requires that the Liquidator present a summary of claims admitted for approval before payment of the above-mentioned dividend.

    ORIGINAL TEXT IN FRENCH - Par jugement du sept fevrier 2011, le Tribunal d’Arrondissement de Luxembourg, siégeant en matière commerciale, 15ème chambre, a déclaré qu’un dividende de 100 % peut être payé aux créanciers chirographaires admis au passif de la liquidation judiciaire de Landsbanki Luxembourg SA, avec siège social à L- 1222 Luxembourg 2-4 rue Beck.

    Ce même jugement, exécutoire par provision, a imparti au liquidateur de présenter au Tribunal un état des créances admises pour approbation, avant paiement dudit dividende.

  • July 22, 2010 - Press Release

    On July 22, 2010, the Luxembourg District Court approved an agreement between the Luxembourg Central Bank, Landsbanki Islands and the Liquidator of Landsbanki Luxembourg, pursuant to which the Luxembourg Central Bank and Landsbanki Islands have, subject to certain conditions, consented to a restructuring of their claims against the estate of Landsbanki Luxembourg, which grants seniority to the claims of the other creditors of Lansdbanki Luxembourg.

    An agreement has also been concluded with Reviva Capital S.A., pursuant to which Reviva Capital will service the loans granted by Landsbanki Luxembourg other than the equity release loans.

    Because of this agreement and concessions made by other institutional creditors, the Liquidator should be in a position to pay out a substantial liquidation dividend to the creditors late this year or early next year.

  • Claims Deadline

    By Court order dated 24 February, 2010, the Luxembourg District Court of and in Luxembourg, fifteenth section, sitting in commercial matters, has modified and completed the winding-up orders on the Limited Liability Company LANDSBANKI LUXEMBOURG S.A. with registered office at 2-4 rue Beck , L-1222 Luxembourg, with respect to the modus of liquidation as follows: The last date by which preferred and non preferred creditors must file their claims in order to receive dividends from Landsbanki Luxembourg S.A. in liquidation has been formally set at MAY 14, 2010 . Read more.

All data on this web site is provided without prejudice and is for informational purposes only. This information will be updated from time to time.