[pip08456]

Originally Posted by Mr K

Iceland loves trading with us. They still haven't paid us back for the 'Icesave' fiasco (https://en.wikipedia.org/wiki/Icesave_dispute) and they won the 'Cod wars' (https://en.wikipedia.org/wiki/Cod_Wars).

Really?

On 28 January 2013, the EFTA Court cleared Iceland of all charges, meaning that Iceland was freed from the disputed obligation for deposit guarantees worth €4.0bn (ISK 674bn) plus accrued interest to UK and the Netherlands. This caused shock, as some legal experts had suggested the ESA would win.

The repayment claim still existed as a claim on the Landsbanki receivership, who one year earlier had been ordered by the Supreme Court of Iceland to repay confiscated deposits (including minimum deposit guarantees) as priority claims, totaling ISK 852bn (£4.46bn, €5.03bn) to the UK Financial Services Compensation Scheme and ISK 282bn (€1.67bn) to De Nederlandsche Bank. By January 2016, the Landsbanki receivership had, through liquidation of assets, repaid all the priority claims.