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Watch an audio slideshow of how traditional Icelandic rhubarb stew is made. Rhubarb is one of the few vegetables that grows effortlessly in Iceland and for that reason it used to be a highly-valued addition to the traditional diet of fish and lamb.
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Reykjavík District Court ruled yesterday that Icelandic entrepreneur Jón Ólafsson of Iceland Glacial is to pay Landsbanki GBP 2.3 million (ISK 453 million, USD 3.7 million, EUR 2.8 million) because of a personal guarantee on a loan granted to Jervistone Ltd. by the savings bank Sparisjóður Keflavíkur in 2006.
Reykjavík District Court.
Sparisjóður Keflavíkur later went bankrupt and was taken over by Landsbanki. However, Jervistone did not repay the loan and so Landsbanki demanded payment from Jón, ruv.is reports.
Jón refused to pay the loan, reasoning that he had been hired as a consultant to Jervistone Ltd. and that Sparisjóður Keflavíkur had demanded that he agree to a surety.
However, after the banking collapse in 2008, the savings bank was unable to service Jervistone Ltd. as agreed and also prevented Jervistone Ltd. from selling its shares and repaying the loan, he stated.
Furthermore, Jón reasoned that Landsbanki was not party to the case. The loan had been granted by Sparisjóður Keflavíkur and it had not been proven that Landsbanki had taken over the loan after the savings bank collapsed.
In addition, the claim had become void, he added.
The judge did not find any of Jón’s arguments strong enough to reject Landsbanki’s claim and ruled that he should pay the bank GBP 2.3 million because of surety on the loan.
Click here to read more about the savings bank’s collapse.
ESA
Click here to learn about our custom made photo book Iceland 2012 with the best pictures of the year.
Leader of the Progressive Party, Sigmundur Davíð Gunnlaugsson, who held the mandate to lead coalition talks, presented the government agreement between the Progressive Party and Independence Party to the President of Iceland Ólafur Ragnar Grímsson at the presidential residence Bessastaðir this morning.
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The chairmen of the Independence Party and Progressive Party, Bjarni Benediktsson and Sigmundur Davíð Gunnlaugsson, formally presented the government agreement to the public at a press conference shortly after 11 am this morning.
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The party council of the Independence Party and central committee of the Progressive Party unanimously accepted the government agreement negotiated by their respective chairmen, Bjarni Benediktsson and Sigmundur Davíð Gunnlaugsson, yesterday evening.
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Icelandic mountaineer Ingólfur Geir Gissurarson made it up the summit of the world’s highest mountain, Everest at 8,848 meters, by the South East Ridge at 1 am Icelandic time last night. At 50, he is the fifth and oldest Icelander to make the climb.
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The 2013 April-May issue of Iceland Review & Atlantica has been released. Packed with informative and entertaining stories, highlights include an interview with outgoing Prime Minister Jóhanna Sigurðardóttir and the people who know her best, a photo essay of ice caves in Europe’s largest glacier and a colorful feature on life in the West Fjords.
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REVIEWS
The 11th Reykjavík Shorts & Docs. Catch it while it lasts!
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Artist couple Nína Ivanova and Ómar Smári Kristinsson explain why they decided to settle in the West Fjords’ capital.
Reykjavík Queer Choir’s annual spring concert takes place on Friday, May 24.
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