Headquarters of Baugur at Tungata
The lawyers of Glitnir and Islandsbanki objected in the district court of Reykjavik yesterday that Baugur would be granted a continued authorization »»
Headquarters of Baugur at Tungata
Arngrimur Isberg, district court judge, did not take a stand on the continued moratorium of Baugur Group yesterday, and the preliminary reading was postponed till Monday.
Ragnar H. Hall, assistant in the moratorium of Baugur Group has requested that the moratorium would the prolonged for all up to three months. He iterated the request yesterday and insisted that the objections of the lawyers of Glitnir and Islandsbanki would be rejected.
The lawyer of Glitnir did not want to comment on the reasons for that the bank objected to the request of Glitnir.
Stefan Hilmarsson, assistant president of Baugur, said after the preliminary reading that he is very surprised about the stand of Glitnir. Other claim owners had not set themselves against the moratorium. They realized that it is better to get time to work out the situation of Baugur to save the valuables. The position of the company is still unclear because many matters need to be solved like the payoff to the Landsbanki because of BG Holding.
News Article by noname
Original Article in Icelandic