E&Y touted as Landsbanki administrators

Ernst & Young may be close to winning the high-profile administration of the UK assets of Landsbanki, the troubled Icelandic bank.

The government approached veteran administrator Alan Bloom to see if he would step in, according to press reports.

Bloom and three other administrators from E&Y are already helping the directors of Landsbanki subsidiary Heritable UK plc manage its loan book, while looking for a buyer for the remainder of the business.

E&Y is also handling operations at Kaupthing Singer & Friedlander Limited, the UK arm of Icelandic bank Kaupthing.

On the issue of the Landsbanki administration, the firm declined to comment on press speculation.