Settlement due for Icelandic creditors

London: Creditors of failed Icelandic lender Kaupthing Bank 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.”