Kaupthing Creditors Could Get Debt-for-Equity Swap in 12 Months
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Creditors of failed Icelandic lender Kaupthing Bank hf may get their claims settled in about a year as the bank’s winding-up committee looks into the option of swapping debt for equity.
“We could see issuing some kind of financial instruments to the creditors in a year’s time,” said Olafur Gardarsson, the head of Kaupthing’s winding-up committee, in an interview. “Those who need the money can cash out and others that want to see a greater return on their investment can choose to sit back and wait.”