After the rejection of "Icesave bill 2", renewed negotiations started on the terms for the repayment agreement. The negotiations resulted, in December 2010, in an adjusted agreement named "Icesave bill 3", with better terms for Iceland. This included the removal of a previous creditor priority issue, a lower 3% interest rate, an interest moratorium until 1 October 2009, and a possible extension of the "repayment window" up to 30 years. When the "Icesave bill 3" was put to a referendum in April 2011, it was again rejected, by 59% of Icelandic voters. After analysing the election result, stakeholders decided not to attempt negotiation of a further improved "Icesave bill 4", but instead to refer the case to the EFTA Court as a legal dispute.