Landsbanki stops Irish creditors — for now

LANDSBANKI, one of the three banks seized by the Icelandic government in October, has been given court backing to stop Irish creditors trying to recover their investments before February 26, 2009.

Two Irish banks who have over €100 million exposure to Icelandic banks cannot move to recover their funds until after that date.

Irish Life & Permanent has a €90m exposure to the three banks, while Anglo estimates its exposure at between €20m and €30m.