BusinessBusiness RecoveryE&Y touted as Landsbanki administrators

E&Y touted as Landsbanki administrators

Speculation increases Ernst & Young will be handling the administration of the UK assets of collapsed Icelandic bank

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.

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