Defendant in Glitnir Case Hands in Declaration Skip to content

Defendant in Glitnir Case Hands in Declaration

By Iceland Review

A declaration by Pálmi Haraldsson, one of the defendants in the case of Glitnir’s winding-up committee against seven of the bank’s former shareholders and executives and the auditing firm PricewaterhouseCoopers, saying that his assets in the US will be reclaimable if the winding-up committee wins the case against him in Iceland, was handed in to a New York court yesterday.

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The headquarters of Glitnir, now Íslandsbanki, in Reykjavík. Photo by Páll Kjartansson.

However, according to Morgunbladid, a judge in the case decided to reopen the case on Wednesday because the conditions for the court’s decision to dismiss the case had not been fulfilled.

Both Haraldsson and another of the defendants, Hannes Smárason, handed in their declarations after the extension had expired—Smárason’s declaration was received on Wednesday, the same day the decision to reopen the case was made.

Stöd 2 reported yesterday that the other five defendants were angry at Haraldsson and Smárason for handing their declarations in late, thereby compromising all of their cases.

Chairwoman of Glitnir’s winding-up committee Steinunn Gudbjartsdóttir would not comment on whether the case’s dismissal would stand now that all declarations have been handed in.

She hadn’t seen the declarations of Haraldsson and Smárason, she said, and the winding-up committee would have to consult their lawyers in the US on the next steps.

Click here to read more about this case.

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