Yesterday, the Supreme Court of Iceland sentenced Sigurjón Þ. Árnason, former director of Landsbanki, to three and a half years in prison.
At a meeting in Harpa concert hall today, the creditors of Kaupþing Bank agreed to pay ISK 120 billion (USD 937 million, EUR 839 million) in stability contribution in order to be exempt from capital controls.
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.
Ingibjörg Kristjánsdóttir, the wife of former majority owner of Kaupþing Bank Ólafur Ólafsson, who in February was handed a four-and-a-half year sentence for being party to the Al-Thani scam, maintains in an article she wrote in Fréttablaðið today that the Supreme Court of Iceland had confused...
A report, commissioned by Prime Minister Sigmundur Davíð Gunnlaugsson, outlining the need for a fundamental reform of Iceland’s monetary system, was published today by Progressive Party MP and chair of the Alþingi parliament’s Committee for Economic Affairs and Trade Frosti Sigurjónsson.
A new Icelandic documentary Íslenska krónan, features the Icelandic currency, its history current position and future prospects. Directed by Garðar Stefánsson and produced by Atli Bollason, it will be screened at Bíó Paradís cinema in Reykjavík starting this Sunday.
The combined profits of the three large commercial banks in Iceland, Landsbanki, Arion Banki (earlier Kaupþing) and Íslandsbanki (earlier Glitnir), was ISK 80 billion (USD 600 million, EUR 530 million) last year. Since the banking collapse in 2008, they’ve earned ISK 370 billion (USD 2.8 billion...
Former CEO and of investment company FL Group Hannes Smárason was this morning acquitted of charges of embezzlement from the company’s funds in Reykjavík District Court. The prosecution is to cover all costs, including ISK 10 million (USD 76,000, EUR 66,000) in defensive fees.
Icelandic Minister of Finance Bjarni Benediktsson stated in parliament yesterday that there is reason to look into whether an EUR 500 million emergency loan the Central Bank of Iceland granted to Kaupþing Bank following the Al-Thani scam is reason for the Icelandic state to file a damages case...
Special Prosecutor Ólafur Þór Hauksson, who filed the charge against the Kaupþing four, who were convicted in the Al-Thani case on Thursday, believes that the verdict along with other recent convictions in economic violations reduce the likelihood of similar violations being committed in the...
The Supreme Court of Iceland concluded in its verdict yesterday when sentencing four former key executives of Kaupþing Bank to prison that Sheik Mohammed Bin Khalifa Al-Thani of Qatar’s acquisition of a five percent share in the bank two weeks before the banking collapse in 2008 was a deception...
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