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Hedge Funds Snubbed as Iceland Reviews Bankruptcy

Bloomberg – Hedge funds and other creditors in Iceland’s failed banks are trying to get a response from the nation’s authorities on the status of their claims as the government considers amending the bankruptcy law.

More than five years after Iceland’s biggest banks defaulted on $85 billion, the nation has yet to arrive at an agreement with creditors on how to settle their claims. At stake for Iceland is its financial stability as authorities search for a solution that doesn’t trigger a krona sell-off just as the island tries to scale back capital controls.

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