10 MARCH 2011

Parental Guarantee

The ruling has been handed down in the Reykjavik District Court in the case regarding the parental guarantee. The Court has ruled that the parental guarantee is not valid. The ruling will be posted on this website once the official English translation has been received. We have two weeks in which to lodge an appeal and a decision will be made on this in the next few days once we have had time to consider the ruling.

This ruling is extremely disappointing and I know that many creditors will be outraged by it.


The best way to make contact is to write to the bank or email branch@singers.co.im. If you need to telephone the bank, please use the main switchboard number +44 1624 699222.


Mike Simpson

Joint Liquidator