Iceland says Icesave dispute to be solved in court

REYKJAVIK, April 10 Sun Apr 10, 2011 8:02am EDT

REYKJAVIK, April 10 (Reuters) - Iceland's finance minister said on Sunday a dispute with Britain and the Netherlands over repaying debts would take at least a year to solve in court.

"My estimate is that the process will take a year, a year and a half at least," Finance Minister Steingrimur Sigfusson told a news conference.

Icelanders rejected in a referendum a plan to repay $5 billion to Britain and the Netherlands after the countries reimbursed savers who lost deposits in "Icesave" accounts operated by an Icelandic bank that collapsed in 2008. [ID:nLDE73900H]

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