Former SPRON Employees Receive Salary Payments Skip to content

Former SPRON Employees Receive Salary Payments

By Iceland Review

The former employees of SPRON savings bank, who had not received salaries for their entire terms of notice, were paid yesterday after the Icelandic parliament, Althingi, passed a bill stating that the liquidation committee has the authority to pay out salaries from SPRON’s bankrupt estate.

The defunct SPRON branch on Borgartún in Reykjavík. Photo by Eygló Svala Arnarsdóttir.

According to Hlynur Jónsson, SPRON’s liquidator, the salaries were deposited into the employees’ accounts immediately after the bill was passed. The payments had already been prepared and were only pending approval from Althingi, Morgunbladid reports.

Most of the bank’s former employees had three-month terms of notice, so yesterday’s payment was the final payment that they will receive from SPRON. “However, […] many employees had worked at SPRON for a long time and therefore had six-month terms of notice,” Jónsson said.

SPRON was nationalized in March.

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