Iceland’s finance minister says it will not be possible to sell the State’s share in financial institutions before elections this autumn, but that he would like to submit 2017’s budget bill to parliament before it adjourns.
The three jailed former heads of Kaupþing Bank are today to be released from prison into almost total freedom, following a change in the law rushed through parliament in March.
Following yesterday’s calls from the Progressive Party to withdraw the 110-year period of secrecy on data and documentation about the resolution of the old bankrupt banks, the head of the national archives has said that no documentation currently exists with 110-year secrecy applied.
Iceland´s FME financial regulator has released a statement which concludes that Landsbankinn’s conduct in selling its 31.2 percent stake in credit card company Borgun could not be considered in line with normal, healthy trading procedures in the financial market.
The state prosecutor has filed charges against Lárus Welding, former CEO of Glitnir bank, for breach of trust and market manipulation.
ALMC, an asset management company, formerly known as Straumur-Burðarás Investment Bank, has paid between 20 and 30 current and former employees bonuses, estimated to amount to ISK 3.3 billion (USD 25.5 million, EUR 23 million).
Former Landsbanki CEO Sigurjón Árnason and three of his subordinates were sentenced today in the Supreme Court of Iceland for market manipulation.
This morning, three former Kaupþing bankers were acquitted in the Reykjavík District Court of charges in the so-called Chesterfield Case.
An “obvious blunder” is what Prime Minister Sigmundur Davíð Gunnlaugsson last night called Landsbanki bank’s sale of its shares in the electronic payment service company Borgun in 2014.
Eye witnesses to the bank robbery on Borgartún, just two buildings down the street from the offices of Iceland Review, say the robbers caused substantial damage inside the bank.
Former CEO of Glitnir bank Lárus Welding was sentenced yesterday to five years in prison for breach of trust in the so-called Stím Case.
In the beautiful village of Þingeyri, West Fjords, population 252, there is a long line every Tuesday between 3:00 pm and 4:00 pm.
The economic measures introduced by the government Wednesday are the largest ever in Icelandic history, according to Finance Minister Bjarni Benediktsson.
The Central Bank of Iceland has recommended an exemption from the Foreign Exchange Act be given to the failed banks, Kaupthing hf., Glitnir hf., and LBI hf.
Chairperson of the Left-Green Movement Katrín Jakobsdóttir would like to see a “social bank” established in Iceland.
The Reykjavík Fire Department was called out to the Central Bank of Iceland shortly before midnight after water had begun leaking into the building’s hallways.
The creditors of Glitnir Bank have proposed to relinquish all of Glitnir’s holdings in Íslandsbanki LTD to the State as part of their stability contribution.
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.
With this week’s closure of their only bank branch, the residents of the Westfjords village of Þingeyri now need to drive 50 km to visit their money.
Sigurður Einarsson, the former chairman of Kaupþing bank, has formally requested the Reykjavík District Court declare him personally bankrupt.