Iceland says Icesave dispute to be solved in court

REYKJAVIK Sun Apr 10, 2011 8:29am EDT

REYKJAVIK (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.