The defendants in the case of the Glitnir winding-up committee’s against the bank’s former majority owner Jón Ásgeir Jóhannesson and six of his associates have agreed in consultation with their lawyers not to object to the jurisdiction of Icelandic courts.
Glitnir’s former headquarters in Reykjavík. Photo by Páll Kjartansson.
They will also not object to the completion of the Icelandic verdict in the United States, ruv.is reports.
A New York court ruled late last year that the case be dismissed on the terms that all defendants acknowledge the jurisdiction of Icelandic courts in this case and the enforceability of an Icelandic verdict in the US.
Kim J. Landsman, the lawyer representing Jóhannesson among other defendants, said the terms of Glitnir’s winding-up committee on how to progress have now been met.
The winding-up committee was planning to appeal the dismissal verdict of the US court as the defendants had not agreed to the conditions on which the dismissal was based.
Click here to read more about the verdict.