Glitnir Case Will Not Go Before New York Court Skip to content

Glitnir Case Will Not Go Before New York Court

By Iceland Review

New York judge Charles E. Ramos has determined that the conditions for dismissing the case of Glitnir Bank’s winding-up committee against seven businesspeople and PricewaterhouseCoopers were fulfilled and therefore decided against reopening the case.


The headquarters of Glitnir, now Íslandsbanki, in Reykjavík. Copyright: Icelandic Photo Agency.

Earlier reports stated that the case would reopen in New York as the conditions for dismissing it had not been fulfilled—two of the defendants handed over their declarations saying that their assets in US would be reclaimable if the winding-up committee won the case against them in Iceland after the deadline expired.

Sigurdur G. Gudjónsson, the lawyer representing Pálmi Haraldsson, the person who handed his declaration in last, confirmed to that Ramos had said the case would not be heard in his court.

The winding-up committee’s lawyer then asked Ramos whether he was willing to reconsider his position but he replied he wouldn’t—the case should be heard in Iceland.

Chair of the Glitnir winding-up committee Steinunn Gudbjartsdóttir could not be reached for comment on the case’s latest development.

Click here to read more about the case.

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