The Depositors' and Investors' Guarantee Fund's obligation to pay compensations to depositors of Straumur-Burdaras Investment Bank hf.
On 9 March 2009 the FME assumed the powers of a meeting of the shareholders of Straumur- Burdaras Investment Bank hf., immediately suspended the Board in its entirety and appointed a Resolution Committee. The Resolution Committee made a decision of closing the bank that day. It is the opinion of the Financial Supervisory Authority, Iceland (the FME) that on the same day, Straumur-Burdaras Investment Bank hf. was unable to render payment of the amount customers demanded, of certain deposits, in accordance with applicable terms. Therefore, with regards to the aforementioned, the Depositors’ and Investors’ Guarantee Fund (the Fund) has become obligated to render payments in accordance with Article 9 of Act No. 98/1999 on Deposit Guarantees and Investor Compensation Scheme, to Straumur-Burdaras Investment Bank´s customers who did not receive the amount of their deposits.
Further information may be found at the Fund‘s website (http://www.tryggingarsjodur.is/).