Government Support for Legal Action against UK Authorities 05/01/2009

Government Support for Legal Action against UK Authorities 05/01/2009

Government Support for Legal Action against UK Authorities

5 January 2009

Today the Prime Minister and the Minister of Foreign Affairs have met with representatives of Kaupthing Bank’s Resolution Committee. The Ministers had previously met with Landsbanki’s Resolution Committee. Kaupthing Bank’s Resolution Committee has decided to bring suit against the UK authorities, and enjoys the full support of the Icelandic government in so doing. The Government will also support Landsbanki’s Resolution Committee in possible legal proceedings which it may undertake. Legal action by Landsbanki’s Resolution Committee is not entirely subject to the same time constraints as is the suit to be brought by the Resolution Committee of Kaupthing Bank The issue will be discussed at a cabinet meeting tomorrow morning.

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