Kaupthing hf

Kaupthing hf is the subject of an active foreign recognition proceeding under Part IV of the Companies' Creditors Arrangement Act, commenced November 16, 2015 in the Ontario Superior Court of Justice (Commercial List) as court file CV-15-11170-00CL, with the application resting on section 46 of the Act. Audited interim financial statements at the entity level put Kaupthing ehf's total assets at approximately $7.9 billion and total liabilities at approximately $26.6 billion as at June 30, 2015, in Canadian dollars converted at the Central Bank of Iceland's published CAD/ISK selling rate for that date. The Information Officer has reported 31 general unsecured Canadian creditors holding aggregate claims of approximately $113 million as of October 28, 2015, roughly 0.43% of the company's total outstanding general unsecured claims.