Former CEO Accuses Government of Legal Violation Skip to content

Former CEO Accuses Government of Legal Violation

Víglundur Þorsteinsson, former CEO and majority owner of the construction company BM Vallá, stated at a press conference yesterday that the government violated the emergency law, which took effect on October 6, 2008, when the banks were restored.


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Víglundur claims that debtors were discriminated against when loan portfolios were reevaluated while being moved from the defunct Kaupþing to Arion Bank. He maintains that at Arion Bank a list of debtors was made which were to be bankrupted for the benefit of the resolution committee, reports.

Víglundur, who stated that information he was entitled to had been kept from him, is calling for further information and an investigation into the matter.

The Ministry of Finance released a statement in response to Víglundur’s accusations, stating that the ministry had handed over all information in its possession which it had the authority to release, rejecting claims that the ministry, government or individual ministers had interfered with the affairs of certain debtors or loans.


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