Iceland’s United Silicon gets more time to sort out its problems

The District Court of Reykjanes approved the request of the Board of Directors of United Silicon for an extension of its moratorium until Jan. 22, 2018.

The company’s Board of Directors had originally been granted a moratorium in mid-August. In September an extension of the company’s moratorium was requested and the deadline was extended until Dec. 4.

During the moratorium period extensive work has been directed at the necessary analyses of United Silicon’s activities and possible routes for improvements reviewed. Efforts have been directed especially at resolving those objections which have been raised by supervisory bodies to the company’s operations.

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