Extract from the Decision concerning Glitnir Banki HF pursuant to Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit institutions

2009/C 96/06

GLITNIR BANKI HF

On February 19, 2009 pursuant to an order of the District Court of Reykjavik, an extension to the order of 24 November, 2008 granting a moratorium on payments was authorised in respect of Glitnir Banki hf. (Glitnir) pursuant to Article 98 of Act No. 161/2002 on Financial Institutions, Glitnir having satisfied the court that the grounds on which the moratorium was granted continue to be valid and there was no reason under applicable law that would require the application for extension of the moratorium to be denied. Supreme Court Attorney Steinunn Gudbjartsdóttir has been appointed to assist Glitnir in connection with the moratorium. The effect of the order continues to be that legal proceedings may not be brought against Glitnir while it is in debt moratorium unless expressly permitted by law or if the action constitutes criminal proceedings involving penalty demands.

The authorisation in respect of the extension of the moratorium is in effect until November 13, 2009 at 13:00 hours when the matter will be readdressed by the District Court of Reykjavik at Laekjatorg Square, Reykjavik, Iceland. Creditors of Glitnir are entitled to make representations at this hearing.