Dutch Icesave Depositors to Sue Iceland Skip to content

Dutch Icesave Depositors to Sue Iceland

Approximately 200 Dutch savers who had deposits in Icesave, the Icelandic Landsbanki bank’s online savings unit in the UK and the Netherlands, are preparing a lawsuit against the Icelandic state, based on discrimination.

The headquarters of Landsbanki in Reykjavík. Photo by Páll Stefánsson.

The complainants argue that they were discriminated against since they were not given access to their savings accounts in the new state-run Landsbanki (NBI), whereas the bank’s Icelandic depositors were, Fréttabladid reports.

A press release from the Dutch Icesave depositors states that the Icelandic Financial Supervisory Authority (FME) is fully responsible for Icesave.

The Dutch Central Bank tried to stop the expansion of Icesave but received false information and was ignored by Landsbanki, according to the press release.

“We will discuss this matter with Icelandic authorities and other interested parties and are prepared to seek our rights from EFTA [European Free Trade Association] and European Union courts,” the group’s spokesman, Gerard van Vliet, told Morgunbladid.

An agreement between Icelandic, Dutch and British authorities on Iceland’s obligations towards Icesave depositors is currently the subject of a heated debate in Iceland’s parliament, Althingi.

Click here to read more about the debate.

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