CEO of FL-Group sued for ISK 266 million Skip to content

CEO of FL-Group sued for ISK 266 million

By Iceland Review

According to the Icelandic Broadcasting System, RÚV, the former chairman and current CEO of FL-Group, Hannes Smárason, was sued in the District Court of Reykjavík yesterday by Kristinn Rúnar Kjartansson.

Kristinn claims he is entitled to a 7% finders fee from Hannes in connection with FL-Group’s acquisition of the cargo airline Bláfugl and the company Flugflutningar in 2004. The companies were owned by Kristinn’s brother and several other individuals. The finders fee Kristinn is claiming amounts to ISK 266 million corresponding to an acquisition price of approximately ISK 4 billion.

A written statement signed by Hannes and the legal counsel for FL-Group, Gunnar Sturluson, confirms that Kristinn is due a finders fee. Hannes, however, claims that it is the sellers who should pay Kristinn the fee.

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