The new Norwegian head of the Icelandic Central Bank, Sven Harald Oygard, is reported to have declined to prop Straumur up when a €33 million ($42 million) loan became due for repayment last week.
The state takes over responsibility for Straumur's debts, and there are fears of national bankruptcy as questions are asked as to whether the state is able to service what it has taken on.
Straumur last year set a record for the largest loss ever made by an Icelandic company at €700 million ($891 million).
