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

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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