Resolution of FS Finans V A/S’ activities
In 2015, Finansiel Stabilitet assumed control of Andelskassen J.A.K. Slagelse, as the institution was failing and needed crisis management. As part of the takeover, all shareholders and a relevant part of the creditors were written down, as a valuation carried out by an independent valuation expert had shown that there were insufficient funds to cover these liabilities. On 31 May 2017, Andelskassen J.A.K. Slagelse under control deposited its licence to carry on banking and securities trading activities. The bank was at the same time converted into a financing company with the name of FS Finans V A/S, from which the resolution of remaining loans has taken place.
At 31 December 2022, FS Finans V A/S had loans and guarantees representing a total carrying amount of DKK 10 million and total assets of DKK 29 million.
At the end of 2022, the Resolution Fund had a total deficit of DKK 1 million in relation to the resolution of Andelskassen J.A.K. Slagelse.
Resolution of FS Finans VI A/S’ activities
In 2018, Finansiel Stabilitet assumed control of Københavns Andelskasse, as the institution was failing and needed crisis management. As part of the takeover, shareholders and a part of the creditors were written down, as a valuation carried out by an independent valuation expert had shown that there were insufficient funds to cover all creditors. On 28 June 2019, Københavns Andelskasse under control deposited its licence to carry on banking and securities trading activities. The bank was at the same date converted into a financing company with the name of FS Finans VI A/S, from which the winding up of remaining loans will take place.
At 31 December 2022, FS Finans VI A/S had net loans and guarantees with a total carrying amount of DKK 8 million and total assets of DKK 52 million.
At the end of 2022, the Resolution Fund had a total gain of DKK 3 million in relation to the resolution of Københavns Andelskasse.