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Court decision due on Baugur moratorium

The Icelandic court will make a decision on whether to grant an extension to the investment firm Baugur’s moratorium today.

Baugur applied for an extension to its moratorium to give it more time to sort out its affairs.

The investment firm first applied for the moratorium, which temporarily granted it suspension of payments, after its UK division went into administration.

If it fails to get an extension The Daily Telegraph reported that it could make an immediate offer to its unsecured creditors or file for bankruptcy.

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