DealBook: Iceland Wins Major Case Over Failed Bank

More than four years after its banking system collapsed, Iceland won a landmark court case on Monday over its refusal to cover the losses of British and Dutch depositors who lost money in Icesave, a failed Icelandic bank.

In a judgment issued in Luxembourg, the court of the European Free Trade Association, or EFTA, cleared Iceland of complaints that it violated rules governing the protection of depositors drawn up by the European Union. While Iceland is not a member of the Union, it is bound by most of its rules as a member of EFTA.

The case has attracted widespread attention because it touches on issues of cross-border banking that have been at the center of the European Union’s efforts to ensure the future stability of its financial system.

The court ruling on Monday represents a major victory for Iceland. Unlike Ireland, which also experienced a catastrophic bank failure, Iceland declined to use taxpayer money to bail out foreign bondholders and depositors. This set off a bitter dispute with Britain, which used antiterrorism rules to take control of assets held in Britain by Icesave’s parent, Landsbanki.

The Icelandic government tried twice to settle the Icesave debts. But the country’s voters, asked to approve settlement plans in two separate referendums, rejected the proposals. Foreign holders of bonds issued by Landsbanki and two other failed Icelandic banks lost some $85 billion.

“It is a considerable satisfaction that Iceland’s defense has won the day in the Icesave case,” the Icelandic government said in a statement issued by the Foreign Ministry in Reykjavik. The ruling in Luxembourg, it added, “brings to a close an important stage in a long saga” and “Icesave is now no longer a stumbling block to Iceland economic recovery.”

Iceland’s economy is improving. Fitch recently raised its rating on the nation’s bonds, noting that its ‘‘unorthodox crisis policy response has succeeded in preserving sovereign creditworthiness.’’

Still, the Icesave saga has left an acrimonious legacy.

In a recent interview with British television, Iceland’s president, Olafur Ragnar Grimsson, denounced Britain’s “eternal shame’” for invoking the terrorism laws. ‘”We were there together with Al Qaeda and the Taliban on that list,” he said. “We have not forgotten that in Iceland.”

Icesave collapsed in October 2008 along with its parent bank and the rest of the banking sector. Caught in the wreckage were some 350,000 people in Britain and the Netherlands who, lured by unusually high interest rates, had put their money into Icesave accounts.

The Icelandic government guaranteed the deposits of Icelanders who had money in failed banks. But it declined to cover the losses of foreigners with online accounts operated by Icesave, a move that prompted complaints of illegal discrimination to the court in Luxembourg.

The case against Iceland, which was bought by the Surveillance Authority of the European Free Trade Association, revolved around interpretation of a European Union directive requiring that deposits in the region’s banks be covered equally by deposit guarantee schemes. Britain and the Netherlands supported the case.

But the court ruled that the directive on guaranteeing bank deposits did not oblige the Icelandic authorities to ensure payment to depositors in Britain and the Netherlands ‘‘in a systemic crisis of the magnitude experienced in Iceland.’’ Iceland argued that all Icesave depositors would eventually get their money back but that the government, confronted in 2008 with a total breakdown of the financial system, did not have the means to offer immediate payment to all claims.

The court also cleared Iceland of complaints that it violated nondiscrimination rules when it protected domestic depositors by moving their accounts to solvent new banks but reneged on protecting foreign depositors. The government statement issued on Monday assured depositors that ‘‘Icesave claims will be paid out in full’’ by the estate of Landsbanki.

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Well: Keeping Blood Pressure in Check

Since the start of the 21st century, Americans have made great progress in controlling high blood pressure, though it remains a leading cause of heart attacks, strokes, congestive heart failure and kidney disease.

Now 48 percent of the more than 76 million adults with hypertension have it under control, up from 29 percent in 2000.

But that means more than half, including many receiving treatment, have blood pressure that remains too high to be healthy. (A normal blood pressure is lower than 120 over 80.) With a plethora of drugs available to normalize blood pressure, why are so many people still at increased risk of disease, disability and premature death? Hypertension experts offer a few common, and correctable, reasons:

¶ About 20 percent of affected adults don’t know they have high blood pressure, perhaps because they never or rarely see a doctor who checks their pressure.

¶ Of the 80 percent who are aware of their condition, some don’t appreciate how serious it can be and fail to get treated, even when their doctors say they should.

¶ Some who have been treated develop bothersome side effects, causing them to abandon therapy or to use it haphazardly.

¶ Many others do little to change lifestyle factors, like obesity, lack of exercise and a high-salt diet, that can make hypertension harder to control.

Dr. Samuel J. Mann, a hypertension specialist and professor of clinical medicine at Weill-Cornell Medical College, adds another factor that may be the most important. Of the 71 percent of people with hypertension who are currently being treated, too many are taking the wrong drugs or the wrong dosages of the right ones.

Dr. Mann, author of “Hypertension and You: Old Drugs, New Drugs, and the Right Drugs for Your High Blood Pressure,” says that doctors should take into account the underlying causes of each patient’s blood pressure problem and the side effects that may prompt patients to abandon therapy. He has found that when treatment is tailored to the individual, nearly all cases of high blood pressure can be brought and kept under control with available drugs.

Plus, he said in an interview, it can be done with minimal, if any, side effects and at a reasonable cost.

“For most people, no new drugs need to be developed,” Dr. Mann said. “What we need, in terms of medication, is already out there. We just need to use it better.”

But many doctors who are generalists do not understand the “intricacies and nuances” of the dozens of available medications to determine which is appropriate to a certain patient.

“Prescribing the same medication to patient after patient just does not cut it,” Dr. Mann wrote in his book.

The trick to prescribing the best treatment for each patient is to first determine which of three mechanisms, or combination of mechanisms, is responsible for a patient’s hypertension, he said.

¶ Salt-sensitive hypertension, more common in older people and African-Americans, responds well to diuretics and calcium channel blockers.

¶ Hypertension driven by the kidney hormone renin responds best to ACE inhibitors and angiotensin receptor blockers, as well as direct renin inhibitors and beta-blockers.

¶ Neurogenic hypertension is a product of the sympathetic nervous system and is best treated with beta-blockers, alpha-blockers and drugs like clonidine.

According to Dr. Mann, neurogenic hypertension results from repressed emotions. He has found that many patients with it suffered trauma early in life or abuse. They seem calm and content on the surface but continually suppress their distress, he said.

One of Dr. Mann’s patients had had high blood pressure since her late 20s that remained well-controlled by the three drugs her family doctor prescribed. Then in her 40s, periodic checks showed it was often too high. When taking more of the prescribed medication did not result in lasting control, she sought Dr. Mann’s help.

After a thorough work-up, he said she had a textbook case of neurogenic hypertension, was taking too much medication and needed different drugs. Her condition soon became far better managed, with side effects she could easily tolerate, and she no longer feared she would die young of a heart attack or stroke.

But most patients should not have to consult a specialist. They can be well-treated by an internist or family physician who approaches the condition systematically, Dr. Mann said. Patients should be started on low doses of one or more drugs, including a diuretic; the dosage or number of drugs can be slowly increased as needed to achieve a normal pressure.

Specialists, he said, are most useful for treating the 10 percent to 15 percent of patients with so-called resistant hypertension that remains uncontrolled despite treatment with three drugs, including a diuretic, and for those whose treatment is effective but causing distressing side effects.

Hypertension sometimes fails to respond to routine care, he noted, because it results from an underlying medical problem that needs to be addressed.

“Some patients are on a lot of blood pressure drugs — four or five — who probably don’t need so many, and if they do, the question is why,” Dr. Mann said.

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Well: Keeping Blood Pressure in Check

Since the start of the 21st century, Americans have made great progress in controlling high blood pressure, though it remains a leading cause of heart attacks, strokes, congestive heart failure and kidney disease.

Now 48 percent of the more than 76 million adults with hypertension have it under control, up from 29 percent in 2000.

But that means more than half, including many receiving treatment, have blood pressure that remains too high to be healthy. (A normal blood pressure is lower than 120 over 80.) With a plethora of drugs available to normalize blood pressure, why are so many people still at increased risk of disease, disability and premature death? Hypertension experts offer a few common, and correctable, reasons:

¶ About 20 percent of affected adults don’t know they have high blood pressure, perhaps because they never or rarely see a doctor who checks their pressure.

¶ Of the 80 percent who are aware of their condition, some don’t appreciate how serious it can be and fail to get treated, even when their doctors say they should.

¶ Some who have been treated develop bothersome side effects, causing them to abandon therapy or to use it haphazardly.

¶ Many others do little to change lifestyle factors, like obesity, lack of exercise and a high-salt diet, that can make hypertension harder to control.

Dr. Samuel J. Mann, a hypertension specialist and professor of clinical medicine at Weill-Cornell Medical College, adds another factor that may be the most important. Of the 71 percent of people with hypertension who are currently being treated, too many are taking the wrong drugs or the wrong dosages of the right ones.

Dr. Mann, author of “Hypertension and You: Old Drugs, New Drugs, and the Right Drugs for Your High Blood Pressure,” says that doctors should take into account the underlying causes of each patient’s blood pressure problem and the side effects that may prompt patients to abandon therapy. He has found that when treatment is tailored to the individual, nearly all cases of high blood pressure can be brought and kept under control with available drugs.

Plus, he said in an interview, it can be done with minimal, if any, side effects and at a reasonable cost.

“For most people, no new drugs need to be developed,” Dr. Mann said. “What we need, in terms of medication, is already out there. We just need to use it better.”

But many doctors who are generalists do not understand the “intricacies and nuances” of the dozens of available medications to determine which is appropriate to a certain patient.

“Prescribing the same medication to patient after patient just does not cut it,” Dr. Mann wrote in his book.

The trick to prescribing the best treatment for each patient is to first determine which of three mechanisms, or combination of mechanisms, is responsible for a patient’s hypertension, he said.

¶ Salt-sensitive hypertension, more common in older people and African-Americans, responds well to diuretics and calcium channel blockers.

¶ Hypertension driven by the kidney hormone renin responds best to ACE inhibitors and angiotensin receptor blockers, as well as direct renin inhibitors and beta-blockers.

¶ Neurogenic hypertension is a product of the sympathetic nervous system and is best treated with beta-blockers, alpha-blockers and drugs like clonidine.

According to Dr. Mann, neurogenic hypertension results from repressed emotions. He has found that many patients with it suffered trauma early in life or abuse. They seem calm and content on the surface but continually suppress their distress, he said.

One of Dr. Mann’s patients had had high blood pressure since her late 20s that remained well-controlled by the three drugs her family doctor prescribed. Then in her 40s, periodic checks showed it was often too high. When taking more of the prescribed medication did not result in lasting control, she sought Dr. Mann’s help.

After a thorough work-up, he said she had a textbook case of neurogenic hypertension, was taking too much medication and needed different drugs. Her condition soon became far better managed, with side effects she could easily tolerate, and she no longer feared she would die young of a heart attack or stroke.

But most patients should not have to consult a specialist. They can be well-treated by an internist or family physician who approaches the condition systematically, Dr. Mann said. Patients should be started on low doses of one or more drugs, including a diuretic; the dosage or number of drugs can be slowly increased as needed to achieve a normal pressure.

Specialists, he said, are most useful for treating the 10 percent to 15 percent of patients with so-called resistant hypertension that remains uncontrolled despite treatment with three drugs, including a diuretic, and for those whose treatment is effective but causing distressing side effects.

Hypertension sometimes fails to respond to routine care, he noted, because it results from an underlying medical problem that needs to be addressed.

“Some patients are on a lot of blood pressure drugs — four or five — who probably don’t need so many, and if they do, the question is why,” Dr. Mann said.

Read More..

DealBook: Compuware Rejects Elliott's $2.3 Billion Bid

11:46 a.m. | Updated

Compuware said on Friday that its board had rejected a $2.3 billion takeover bid by Elliott Management, arguing that the hedge fund’s offer was too low.

Instead, the business software maker said that it was focused on its own corporate turnaround blueprint, including a three-year plan to cut costs and an effort to spin off its Covisint business communication products arm. It also announced plans to pay a 50-cent annual dividend, beginning next quarter.

Compuware said that Elliott’s offer of $11 a share, made last month, would not deliver enough value to shareholders, compared to the improvements that its self-help plan would yield.

“We believe that selling the company at $11.00 per share does not take into account our progress returning the business to profitable growth and our future prospects,” Bob Paul, the company’s chief executive, said in a statement.

The decision by Compuware sets up a potential clash with Elliott, which has managed to score some big wins in its battles with technology companies. It bid for Novell, leading the software maker to sell itself to Attachmate for $2.2 billion.

People close to Elliott have argued that the hedge fund was fully prepared to pay the $2.3 billion it had offered for Compuware. But the hedge fund also believed that private equity firms would also express interest.

Though shares in Compuware began rising after Elliott disclosed an 8 percent stake in the company in November, they have remained largely below the $11-a-share offer, implying investor skepticism about a deal being done. The stock closed on Thursday at $10.76.

Jesse Cohn, the Elliott portfolio manager overseeing the hedge fund’s bid, said in a statement: ““This is a good outcome. Compuware has granted our request for access to diligence to confirm an offer for the company. We will immediately reach out to negotiate an appropriate N.D.A. and look forward to moving quickly to engage in diligence with the help of our legal and financial advisors. We remain very interested in the company.”

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This post has been revised to reflect the following correction:

Correction: January 28, 2013

An earlier version of this article misstated Compuware's dividend plan. It is a 50-cent annual dividend, not a quarterly one.

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IHT Rendezvous: IHT Quick Read: Jan. 28

NEWS A fire ignited by a flare from a band’s pyrotechnics spectacle swept through a nightclub filled with hundreds of university students early on Sunday morning in Santa Maria, a city in southern Brazil, killing at least 233 people, officials said. Simon Romero reports from Rio de Janeiro.

President Mohamed Morsi declared a state of emergency and a curfew in three major cities on Sunday, as escalating violence in the streets threatened his government and Egypt’s democracy. David Kirkpatrick reports from Port Said, Egypt.

Milos Zeman, a former leftist prime minister and economist known for his outspoken populism, became the first popularly elected president of the Czech Republic. Dan Bilefsky reports from Prague.

Despite the government’s best efforts, tax evasion remains something of a pastime in Italy. So this month the National Revenue Agency decided to try a new tack. Rather than attempting to ferret out how much suspected tax cheats earn, the agency began trying to infer it from how much they spend. Elisabetta Povoledo reports from Rome.

President Barack Obama is committed to reaching an agreement to smooth trade with the European Union, the United States’ top negotiator has said, but only if it is constructed in a way that would overcome objections from farm groups and that could win congressional approval. Jack Ewing reports from Davos, Switzerland.

Unlike many publishers that have tried to build digital units on the back of existing brands, the German company Hubert Burda has looked to new businesses, some started from scratch. Eric Pfanner reports from Munich.

EDUCATION In Indonesia, a movement is under way to teach students about AIDS and contraception. Sara Schonhardt reports from Yogyakarta, Indonesia.

ARTS Steps to strengthen protections for art buyers at auctions and galleries are slow to advance, and some question whether they are even necessary. Robin Pogrebin and Kevin Flynn report.

A new book, “Signs for Peace: An Impossible Visual Encyclopedia,” compiled by the Swiss-born graphic designer Ruedi Baur and his wife, the sociologist Vera Baur Kockot, presents hundreds of images of peace motifs through the ages. Alice Rawsthorn reviews from London.

SPORTS Novak Djokovic won a grueling final 6-7, 7-6, 6-3, 6-2 match over Andy Murray to win his third consecutive Australian Open title. Christopher Clarey reports from Melbourne, Australia.

The Southeast Asian Games, which will be held in Myanmar’s capital, Naypyidaw, and other sites throughout the country, is causing acrimony long before a single athlete has competed. Thomas Fuller reports from Bangkok.

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J. Richard Hackman, an Expert in Team Dynamics, Dies at 72

J. Richard Hackman, a Harvard psychology professor whose fieldwork sometimes took him to the cockpit of an airliner to observe the crew in a nearly five-decade quest to determine the dynamics of teamwork and effective leadership, died on Jan. 8 in Boston. He was 72.

The cause was lung cancer, his wife, Judith Dozier Hackman, said.

Dr. Hackman, the author or co-author of 10 books on group dynamics, was the Edgar Pierce professor of social and organizational psychology at Harvard.

In one of his best-known books, “Leading Teams: Setting the Stage for Great Performances” (2002), he replaced the popular image of the powerful “I can do it all” team leader with that of someone who, as he wrote, had the subtle skills “to get a team established on a good trajectory, and then to make small adjustments along the way to help members succeed.”

The conditions for a successful team effort — among them “a compelling direction, an enabling team structure, a supportive organizational context and expert team coaching” — “are easy to remember,” Dr. Hackman wrote.

“The challenge,” he continued, “comes in developing an understanding of those conditions that is deep and nuanced enough to be useful in guiding action, and in devising strategies for creating them even in demanding or team-unfriendly organizational circumstances.”

Besides tracking the interplay of pilots, co-pilots and navigators aboard civilian and military planes, Dr. Hackman observed corporate boards, sports teams, orchestra players, telephone-line repair crews, hospital workers and restaurant kitchen staff members.

And in recent years, for his 2011 book, “Collaborative Intelligence,” he was allowed to observe interactions within the American intelligence, defense, law-enforcement and crisis-management communities.

“Although my main aspiration has been to provide guidance that will be useful to team leaders and members,” he wrote, “there are no ‘one-minute’ prescriptions here — creating, leading and serving on teams is not that simple.”

Anita Woolley, a professor of organizational behavior and theory at the Tepper School of Business at Carnegie Mellon University in Pittsburgh, said, “The key thing about Dr. Hackman’s work is that it stands in contrast to some of the more popular models of leadership that focused very much on style or how leaders behave, versus what they do.”

Rather than viewing pay as a prime motivator for good performance, she continued, “he focused on features of people’s jobs that made them more intrinsically satisfied: the freedom to determine how they conduct their work, having a variety of tasks, having knowledge of the ultimate outcomes of their work, knowing how their work affects or is received by other people.”

He also liked to overturn some of the received wisdom about teamwork. In a 2011 article for The Harvard Business Review, Dr. Hackman listed “Six Common Misperceptions About Teamwork.” Among them was this:

“Misperception No. 2: It’s good to mix it up. New members bring energy and fresh ideas to a team. Without them, members risk becoming complacent, inattentive to changes in the environment, and too forgiving of fellow members’ misbehavior.

“Actually: The longer members stay together as an intact group, the better they do. As unreasonable as this may seem, the research evidence is unambiguous. Whether it is a basketball team or a string quartet, teams that stay together longer play together better.”

John Richard Hackman was born in Joliet, Ill., on June 14, 1940, the only child of J. Edward and Helen Hackman. His father was an oil pipeline engineer, his mother a schoolteacher.

Dr. Hackman received a bachelor’s degree in mathematics from MacMurray College in Jacksonville, Ill., in 1962, and a doctorate in psychology from the University of Illinois in 1966. He soon joined the psychology and administrative sciences department faculties at Yale, where he taught until 1986, when he moved to the psychology and business departments at Harvard.

Besides his wife, who is an associate dean at Yale, he is survived by two daughters, Julia Beth Proffitt and Laura Dianne Codeanne, and four grandchildren.

After Dr. Hackman died, The Harvard Crimson wrote that for years he had “devoted countless hours to improving one team in particular — the Harvard women’s basketball squad, for which he volunteered as an honorary coach.”

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Well: Ask Well: Squats for Aging Knees

You are already doing many things right, in terms of taking care of your aging knees. In particular, it sounds as if you are keeping your weight under control. Carrying extra pounds undoubtedly strains knees and contributes to pain and eventually arthritis.

You mention weight training, too, which is also valuable. Sturdy leg muscles, particularly those at the front and back of the thighs, stabilize the knee, says Joseph Hart, an assistant professor of kinesiology and certified athletic trainer at the University of Virginia, who often works with patients with knee pain.

An easy exercise to target those muscles is the squat. Although many of us have heard that squats harm knees, the exercise is actually “quite good for the knees, if you do the squats correctly,” Dr. Hart says. Simply stand with your legs shoulder-width apart and bend your legs until your thighs are almost, but not completely, parallel to the ground. Keep your upper body straight. Don’t bend forward, he says, since that movement can strain the knees. Try to complete 20 squats, using no weight at first. When that becomes easy, Dr. Hart suggests, hold a barbell with weights attached. Or simply clutch a full milk carton, which is my cheapskate’s squats routine.

Straight leg lifts are also useful for knee health. Sit on the floor with your back straight and one leg extended and the other bent toward your chest. In this position, lift the straight leg slightly off the ground and hold for 10 seconds. Repeat 10 to 20 times and then switch legs.

You can also find other exercises that target the knees in this video, “Increasing Knee Stability.”

Of course, before starting any exercise program, consult a physician, especially, Dr. Hart says, if your knees often ache, feel stiff or emit a strange, clicking noise, which could be symptoms of arthritis.

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Well: Ask Well: Squats for Aging Knees

You are already doing many things right, in terms of taking care of your aging knees. In particular, it sounds as if you are keeping your weight under control. Carrying extra pounds undoubtedly strains knees and contributes to pain and eventually arthritis.

You mention weight training, too, which is also valuable. Sturdy leg muscles, particularly those at the front and back of the thighs, stabilize the knee, says Joseph Hart, an assistant professor of kinesiology and certified athletic trainer at the University of Virginia, who often works with patients with knee pain.

An easy exercise to target those muscles is the squat. Although many of us have heard that squats harm knees, the exercise is actually “quite good for the knees, if you do the squats correctly,” Dr. Hart says. Simply stand with your legs shoulder-width apart and bend your legs until your thighs are almost, but not completely, parallel to the ground. Keep your upper body straight. Don’t bend forward, he says, since that movement can strain the knees. Try to complete 20 squats, using no weight at first. When that becomes easy, Dr. Hart suggests, hold a barbell with weights attached. Or simply clutch a full milk carton, which is my cheapskate’s squats routine.

Straight leg lifts are also useful for knee health. Sit on the floor with your back straight and one leg extended and the other bent toward your chest. In this position, lift the straight leg slightly off the ground and hold for 10 seconds. Repeat 10 to 20 times and then switch legs.

You can also find other exercises that target the knees in this video, “Increasing Knee Stability.”

Of course, before starting any exercise program, consult a physician, especially, Dr. Hart says, if your knees often ache, feel stiff or emit a strange, clicking noise, which could be symptoms of arthritis.

Read More..

Gadgetwise Blog: App Smart Extra: On the Slopes

Apps that add a technological edge to your skiing or snowboarding vacation were the subject of a recent App Smart column. But the column could barely make a dent in discussing all the apps available to help winter sports enthusiasts. Here are some more suggestions.

One class of app that can be both helpful and fun is those apps that link you to the different Web cams that many resorts now have on the mountainsides. The Ski Webcams app, free on iTunes or $1.59 on Android, is one of the best of these. It can link you to resort Web cams either near your location or from a very extensive list or, just for fun, to random cams from around the world. It’s a very no-frills app. But it does tell you when each image was collected so you can see how up-to-date the picture is. And you can zoom into the images, which is useful for high-res video feeds.

For a different type of ski app experience, you may love the free iOS app SloPro. It’s a video editing app that offers a rather cool trick: the ability to slow a movie clip down to super slow motion, like the effects you get in sports videos shown on TV. These effects happen through image processing inside the app, so they’re not as eye-catching as using a slow-motion camera to film a skier making a jump, for example. But the effects are impressive, once you’ve mastered the app’s slightly tricky interface. And if you’re on a snow vacation with some friends, then you may be able to achieve some amazingly dramatic film clips.

There are also many apps available that are resort-specific, but since these come from different app developers their quality varies. For example the Val d’Isère Ski Guide app for Android, for the very popular French ski resort, has a pretty basic and uninspiring interface but offers detailed information on up-to-the-minute events, weather and facilities in the town. The $1 iOS app Live North Lake Tahoe is more graphically clever, and thus a little easier to navigate. It also offers a few niceties like a piste map and road cameras so you can plan your journey around traffic or difficult weather. But it does cost soemthing, and offers you services you could get for free by downloading one or two other free apps.

It’s definitely worth spending some time checking out what’s available for your chosen resort before you head off on a ski trip.

Quick call

Delta Airlines has released a free iPad app that has many typical services like destination maps and social networking tools. But it also has a “Glass Bottom Jet” option in-flight that shows an image of the ground underneath your aircraft’s flight path, assuming you’re hooked up to the airline’s in-plane Wi-Fi network.

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Fire Sweeps Through Nightclub in Brazil; Scores Dead

Agencia Rbs/Agence France-Presse — Getty Images

Firefighters working to put out a fire at a nightclub in Santa Maria, Brazil, early on Sunday morning.

RIO DE JANEIRO — A fire ignited by a flare from a live band’s pyrotechnic spectacle swept through a nightclub filled with hundreds of university students early Sunday morning in Santa Maria, a city in southern Brazil, leaving at least 245 people dead, police officials said.

Throughout Sunday morning, health workers hauled bodies from the nightclub, called Kiss, to hospitals in Santa Maria, with some survivors were taken to the nearby city of Pôrto Alegre to be treated for burns. Valdeci Oliveira, a local legislator, said he saw piles of bodies in the nightclub’s bathrooms after entering the venue with rescue workers.

Maj. Cleberson Braida Bastianello, a public security official in Santa Maria, said in a news conference Sunday that emergency responders had counted at least 245 dead and 48 wounded in the blaze. Witnesses who survived the blaze described a scene of mayhem inside the huge nightclub as hundreds of patrons rushed for its main exit.

“I only got out because I am strong,” Ezequiel Corte Real, a 23-year-old survivor, told reporters. He said he helped others escape the blaze, as well.

The disaster in Rio Grande do Sul, a relatively prosperous state in southern Brazil, sent shock waves throughout the country. Brazilian media reported that President Dilma Rousseff canceled appointments at a summit meeting in Chile of Latin American and European leaders, to travel to Santa Maria, city of about 260,000 residents that is known for its cluster of universities.

The disaster ranks among the deadliest nightclub fires in recent memory, comparable to the 2003 blaze in Rhode Island that killed 100 people and nightclub fire in 2004 in Buenos Aires in which 194 were killed.

Witnesses said the fire was ignited around 2 a.m. after a rock band began performing for an audience numbering in the hundreds, comprised largely of students in the agronomy and veterinary medicine programs in a local university. Many of the victims died of smoke inhalation, according to emergency officials.

“The smoke spread very quickly,” said Aline Santos Silva, 29, a survivor of the blaze, in comments to the GloboNews television network. “Those who were closest to the stage, where the band was playing, had the most difficulty getting out.”

Brazilian television stations broadcast images of trucks carrying corpses to hospitals in Santa Maria, where family members were gathering on Sunday. Photographs taken shortly after the blaze and posted on the Web sites of local news organizations showed frantic scenes in which people on the street outside the nightclub pulled bodies from the charred venue.

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