Thursday April 2, 09:22 AM
Luxembourg court extends Kaupthing plan deadline
LUXEMBOURG, April 2 (Reuters) - A Luxembourg court on Thursday gave the Luxembourg arm of crisis-hit Icelandic bank Kaupthing an extra two months to agree on a rescue plan.
The bank (TBHS
- news) 's creditors last month rejected a restructuring plan agreed by a group of Middle Eastern investors who had intended to buy the bank.
Kaupthing Bank Luxembourg had faced a deadline of April 8 for striking new deal. A court could then have ordered the liquidation of the bank.
On Thursday the commerce and business chamber Luxembourg City District Court extended the deadline for suspension of payments to June 9.
(Reporting by Michele Sinner; Editing by Hans Peters) Keywords: KAUPTHING/LUXEMBOURG
(Brussels newsroom; +32 2 287 6810, fax +32 2 230 7710)
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