have been following the Glitnir creditors reports etc and was hoping for a bit more. But now it looks like the Iceland government is going to play hardball with the creditors and make them take even more of a haircut so I guess 1.7million is a reasonable result. What is does do is pave the way for a quick disposal of all assets with one of the more difficult realisations achieved albeit a small one.
I am hopefully that 20 June will be the finish of all assets and a quick return of 40-42 cents. As long as they can achieve previously stated market values there is no reason to continue on. there is no difference between holding assets and getting a interest rate return than selling them and return the cash to us so we can go and invest somewhere else. It has been a great investment but I hope the end soon and its clean and quick.
MXQ Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
