Creditors in Iceland Banks Face Pressure to Speed Up Settlement
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Iceland is considering forcing creditors in the nation’s failed banks to resolve their claims faster as Prime Minister Sigmundur David Gunnlaugsson says he’s looking into passing laws to speed up a settlement.
The existing approach “has never been considered a permanent business model,” Gunnlaugsson said in a Nov. 30 interview in Reykjavik. “Whether we need to address this in law must be one of the matters that we contemplate when we look at whether laws are generally having the impact that they are supposed to.”