Sentences with phrase «icelandic banks»

Michael advised the Bank of England throughout the banking crisis, including on its Special Liquidity Scheme (for which his team won the 2009 Financial Times Innovative Lawyers Award for Legal Innovation in the Credit Crisis and the Downturn), the collapse of Lehman Brothers, Bradford & Bingley and the Icelandic banks, and the recapitalisation of UK banks.

We look forward to supporting the FSCS in - house team with whom we have worked closely for over 7 years in recovering money from the Icelandic Banks on behalf of local authorities».

James Norris - Jones Qualified: 2003 Made partner: 2012 Key cases: Advising UBS in relation to several matters including a series of bond rescission claims brought by the failed Icelandic banks Kaupthing, Glitnir and Landsbanki; advising UBS in relation to a confidential mis - selling claim; HSF's client relationship partner for RBS.

The Authority claimed that Iceland had violated the transposed Directive and thus EEA law in the aftermath of its major economic crisis and collapse of the banking sector in 2008, by failing to ensure that British and Dutch depositors using the famous «Icesave» accounts offered by Icelandic banks received the minimum amount of compensation set out in Article 7 (1) of the Directive.

This followed earlier advice in respect of potential disputes arising from the collapse of Iceland's major banks and action taken against Icelandic banks in the UK.

Eventually, the SFO agreed to pay Robert Tchenguiz # 1.5 m in damages and unspecified legal costs, in a settlement that brought closure to its torrid investigation into the collapse of Icelandic banks.

The German losses are still being toted up, but at last count they stand at $ 21 billion in the Icelandic banks, $ 100 billion in Irish banks, $ 60 billion in various U.S. subprime - backed bonds, and some yet - to - be-determined amount in Greek bonds.

The panic over the collapse of Northern Rock, Bradford & Bingley, Icelandic banks and others may seem a distant memory, yet every sensible saver needs to remember the lessons and ask «Are my savings safe?»

Yet 2007 and 2008 saw such massive tremors — with Northern Rock, Bradford & Bingley, Icelandic banks and Wall Street giants Bear Stearns, Merrill Lynch and Goldman Sachs experiencing various degrees of catastrophe — that everyone started asking «Am I safe?»

Speaking on the sector's Financial Services Compensation Scheme bill from the bail out of Bradford and Bingley and the Icelandic banks, he said «what is notable... is that there has been no requirement for any government bailout of the building society sector; rather difficulties have been dealt with within the sector.

British intransigence over some new financial services directive, for instance, could freeze Norwegian and Icelandic banks out of the single market.

The long term investments that Icelandic banks engaged in were primarily in industries with longer maturities, naturally, such as construction and mining.

The short term funds for this gambling spree were provided in part by the CBI expansion of credit during this period, as well as by the Japanese central bank, which was expanding credit as well during this period, which the Icelandic banks were using in their risky game.

The offer follows a day in which council after council stated it still had funds in Icelandic banks.

«However, the government is working with the Icelandic authorities to ensure that UK creditors, including UK local authorities who have invested in Icelandic banks, are treated fairly.»

While the Government and the Local Government Association have failed to provide a full list of Councils thus far identified as having deposited money in Icelandic banks The Daily Telegraph have had a pretty good stab of it this morning.

Last April, news surfaced that Sigmundur David Gunnlaugsson, the then prime minister, and his wife owned Wintris, an off - shore company that held debt from failed Icelandic banks — a fact he failed to disclose upon entering parliament in 2009.

Then in 2008 it used that power to secure UK assets in Icelandic banks.

The Guardian reports that Gunnlaugsson co-owned a British Virgin Islands — registered company called Wintris Inc., which reportedly held shares worth nearly $ 4 million in three Icelandic banks that collapsed during the financial crisis of 2008.

Icelandic banks played the carry trade too, and foreign banks followed suit by creating «glacier bonds,» which were repackaged Icelandic bonds sold to investors outside the country.

An Icelandic bank, Landsbanki, offered high - interest savings accounts to the Brits under a brand called Icesave.

Financial Times Olafur Ragnar Grimsson, Iceland's president, has created uproar with his decision to block legislation that would have repaid $ 3.9 bn ($ 5.6 bn) lost by British and Dutch savers in a failed Icelandic bank, triggering a referendum that the government is expected to lose.

Until now, the Treasury has done nothing for a significant number of charities, which have lost money in the Icelandic bank failure, so charities such as Naomi House face having to cut back their good work just when it is most needed.

Iceland's banking sector was allowed to grow to a disproportionate size relative to Iceland's GDP, including by offering foreign currency savings accounts at attractive interest rates, which implicitly put the Icelandic government, and therefore the Icelandic people, on the hook for ultimately repaying other countries when Iceland's banking system collapsed and a systemic Icelandic bank run occurred.

Take the case of the Icelandic bank Landsbanki.

Reading Marathon: It seems lots of people have caught the read - aloud bug recently, from our nation's leaders to actors inspired by the Icelandic bank crisis and «The Great Gatsby.»

Unlike fellow Icelandic bank Kaupthing, its structure meant it was technically an Icelandic bank, not a UK one.

This didn't just happened with UK - owned Northern Rock and Bradford & Bingley, but also with Iceland - owned (but UK - regulated) Kaupthing Edge (see more on the Icelandic Bank Collapse).

When a Danish bank wrote a report concluding that something was amiss in the Icelandic banking sector the reaction was eerily similar to what we see in climate science.

In Jefferies International Ltd v Landsbanki Islands HF [2009] EWHC 894 (Comm), [2009] All ER (D) 222 (Apr) Jefferies had entered into a Global Master Securities Lending Agreement (the agreement) with the largest Icelandic bank, Landsbanki on 16 June 2007.

Recent representations include advising on the purchase, sale and financing of bankruptcy trade claims in several major Chapter 11 Cases, including Lehman Brothers, AMR Corporation, the Dewey insolvency, and the MF Global and Icelandic bank liquidations.

A family trust on its claim against an insolvent Icelandic Bank to have various assets returned to it with a value in excess of # 300m.

Our members have appeared in many of the leading cases in this area, from the swaps litigation of the 1990s, through the claims arising out the collapse of the Icelandic banking system, to current challenges to Government sanctions and legal aid cut decisions.

• Assisted on an investigation into the borrowings of the large customers of an Icelandic bank which collapsed in 2008, with a view to making a determination of whether claims could be instigated against the customer;

Not exact matches

Banks «earned their way out of debt» by lending to global speculators who used the yen loans to convert into foreign currency and buy higher - yielding assets abroad — capped by Icelandic government bonds paying 15 %, and pocketing the arbitrage difference.

This involves converting Icelandic currency, euros, sterling and other non-Japanese currencies back into yen to settle the debts owed to Japanese banks.

The problem was macroeconomic in character, but the bank insurance scheme was only for 1 % of deposits — under conditions where the country's main three banks all were driven under by the combination of bad or outright kleptocratic management and Britain's freezing of Icelandic funds in the aftermath of the Icesave collapse.

LONDON, Oct 8 (Reuters)- British Finance Minister Alistair Darling said on Wednesday the government would protect the desposits of British savers with the Icelandic internet bank Icesave.

When the bank collapsed, the Icelandic government passed an emergency law splitting it into a good bank (with assets) and a bad bank (with liabilities).

The failure of banks in Iceland resulted in a devaluation of the Icelandic króna and threatened the government with bankruptcy.

Scenes from Western Culture (2015), comprised of nine «cinematic paintings» depicting idyllic visions of Western civilization, plus a series of new paintings made en plein air in the West Bank, are on view in the Chelsea space, while in Bushwick, he presents the four - channel video installation World Light - The Life and Death of an Artist (2015), the artist's interpretation of Icelandic writer Halldór Laxness's novel World Light (1937 — 40).

British architect David Chipperfield and Danish - Icelandic artist Olafur Eliasson both feature on the team selected to overhaul the Immeuble Morland — a 50 - metre high former - state - owned complex on the banks of the Seine.

The Icelandic Financial Services Authority was granted emergency powers on 6 October to take control of banks facing the difficulties in which Landsbanki found itself.

In a scenario which played itself out in various European capitals the measures imposed by the Icelandic government in order to prop up its banking system potentially undermined the agreement's exclusive jurisdiction clause in favour of the English High Court as well as its governing English law provision.

Based on emergency legislation, domestic deposits had been transferred to a newly created «good» bank after the collapse of the Icelandic Landsbanki but before the Icelandic deposit - guarantee scheme was activated — and failed (para 211).

Instead of going to the bank, the hotel guests can change Icelandic Króna into bitcoin before leaving Iceland,» said Ortlieb in an interview with Iceland Monitor.

However, as per the Central Bank of Iceland's 2014 statement, trading in bitcoin may violate Foreign Exchange Act, suggesting that Icelandic Króna can not leave the country.

As its central bank states, «it is prohibited to engage in foreign exchange trading with the electronic currency bitcoin, according to the Icelandic Foreign Exchange Act.»