[–] [deleted] 2 points -1 points (+1|-2) ago 



[–] DriveWire 0 points 1 points (+1|-0) ago 

During the crisis, the banks main problem was that they didn't have any capital available. All their money was tied in properties or ventures of some kind. With the global economic downturn it proved impossible to sell anything for the cash they so desperately needed. By winding up we put them into the process of keeping them functional but selling all their assets at a later date.

Source: I'm Icelandic.