Standard & Poor’s has raised the long-term credit rating of the Icelandic government, from BBB- to BBB.
The office of the Special Prosecutor, which was established to investigate the Icelandic banking collapse in 2008, will be shut down at the end of this year, according to legislation passed by Alþingi, the Icelandic parliament, on Tuesday.
Sigurður Einarsson, former chairman of Kaupþing Bank, has today been sentenced to one year in prison in the so-called 'big market manipulation case' at the Reykjavík district Court. Hreiðar Már Sigurðsson was also found guilty, but was not sentenced on top of the existing prison term he is...
The former CEO of the savings bank SPRON Guðmundur Örn Hauksson and former board members Ari Bergmann Einarsson, Margrét Guðmundsdóttir, Ásgeir Baldursson and Rannveig Rist were acquitted of charges of breach of trust in Reykjavík District Court this morning.
A group of shareholders in the collapsed bank Landsbanki believe that they can prove how the bank’s former owner Björgólfur Thor Björgólfsson deceived them, causing financial damage to 25,000 shareholders. They have established an interest group to take Björgólfur to court.
The claimants of the collapsed Icelandic banks have agreed to the conditions introduced by the government of Iceland in order to guarantee economic stability when the capital controls—which have been in place since the banking collapse in 2008—will be lifted.
Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson and Minister of Finance Bjarni Benediktsson presented a plan to lift capital controls—which have been in place since the banking collapse in October 2008—at a press conference at noon today.
Ólafur Ólafsson, former majority owner of Kaupþing Bank, has requested the reopening of the Al-Thani case, for which he in February was sentenced to four-and-a-half years in prison for being party to market manipulation.
Pirate Party leader, MP Birgitta Jónsdóttir, requested at parliament yesterday that Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson submit the reports he discussed in his keynote speech at the Progressive Party convention last weekend.