Winding-up Committee
On 25 May 2009, the Reykjavík District Court approved a request from the Resolution Committee and appointed a Winding-up Committee for the Estate as provided for in Act No. 44/2009, amending the Act on Financial Undertakings.
Kaupthing's Winding-up Committee comprises:
- Feldis L. Oskarsdottir, Attorney to the District Court of Iceland
- Johannes R. Johannsson, Attorney to the Supreme Court of Iceland
- Theodor Sigurbergsson, Certified Public Accountant
According to amendment to Act on Financial Undertakings the Resolution Committee was dissolved on the 1st January 2012 and the Winding-up Committee took over respective tasks previously done by the Resolution Committee.
Initial tasks of the Winding-up Committee was to administer the formal claiming process, handle all claims against Kaupthing and make decisions regarding their recognition. The role of the Winding-up Committee was expanded with the amendments to Act on Financial Undertakings where as it took over respective tasks previously done by the Resolution Committee, including tasks related to the asset side and Kaupthing's daily operations.
The Winding-up Committee invited creditors of Kaupthing to lodge their claims in writing within six months of the first publication of a formal notice in the Icelandic Legal Gazette on 30 June 2009. Accordingly, the deadline to lodge claims was 30 December 2009. Once the time limit for lodging claims expired the Winding-up Committee compiled a list of lodged claims which is available on the Creditor's Secure website.
In March 2010, the Winding-up Committee laid out its target to complete its decision on all claims by the Creditors’ Meeting on 3 December 2010. That objective has been reached. However, as many objections were filed, the decisions in question are not final until disputes have been settled.