Due to the recently discovered design flaws in the "Icesave bill 2" agreement, which had put an equal stand to the priority of all the creditor's "priority claims" towards the "Landsbanki receivership", meaning that the Icelandic state as an unwanted consequence suddenly faced much higher liabilities compared to how the Icelandic law normally would regulate the matter, it was now a fact in February 2010 that basically all Icelandic politicians had started to recommend the Icelandic people to vote no for the "Icesave bill 2" in the referendum being scheduled to take place on 6 March 2010. On this background, it was decided by the Icelandic politicians instead to start a new round of negotiations to attempt fixing the issue and reach a new better compromise in the Icesave dispute. An Icelandic delegation was sent to London with a proposal for a new repayment agreement to remove the unwanted negative effects for the Icelandic state, while solving the dispute by still accepting the Icelandic state make a guarantee for a full repayment of the €4bn big loan to cover the minimum deposit guarantee obligation. This new Icelandic offer, was described as focusing to maximize the amount of "Landsbanki" assets received by the UK and the Netherlands, by secreting and transferring asset values (equal to their claims without accrued interests) from the "Landsbanki receivership" over to a public owned liquidation unit in the two countries.