Icelandic Credit Crunch Development
On 9 March 2009, the Icelandic Financial Supervisory Authority took control of Straumur. The FSA appointed a Resolution Committee which took over all activity of the Board of Directors. On 27 March, Straumur was closed.
ALMC successfully completed its composition in summer 2010, first of the collapsed Icelandic banks, with over 99% of ALMC’s creditors approving the composition.
Read more about this topic: Straumur Investment Bank
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