A notification sent by Askar Capital to NASDAQ OMX Iceland on 15 May 2009 stated that all unsecured creditors of Askar's parent company had approved the company's proposals for financial restructuring. These creditors have now taken over the company. The company's leading creditor is Glitnir banki hf., with a holding of 53.3%, followed by Saga Capital hf. which has a 18.1% stake.

Baugur Group put into liquidation. The District Court refused Baugur Group's petition for an ongoing moratorium yesterday. The judge ruled that plans for company reorganisation were unrealistic.

The daily newspaper, Morgunblaðið, published an extensive coverage on the workings of the Resolution Committee of Old Glitnir bank on February 3, 2009. The gist of it translates as follows.