Glitnir Resolution Committee Sues Owners and Executives Skip to content

Glitnir Resolution Committee Sues Owners and Executives

The resolution and winding-up committees of Glitnir Bank, which was taken over by the Icelandic state after the banking collapse in October 2008, have filed lawsuits against the bank’s majority owners Jón Ásgeir Jóhannesson and Pálmi Haraldsson, former CEO Lárus Welding and three other key executives.

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

It is demanded that these individuals pay ISK 6 billion (USD 47 million, EUR 35 million) in compensation, reports.

The lawsuits are partly based on an investigation undertaken by the international company Kroll, which has been working on behalf of Glitnir’s resolution and winding-up committees in the past months.

Árni Tómasson, chairman of Glitnir’s resolution committee, has requested that the conclusions of the investigation be made public, but it was agreed to wait with the publication until next summer.

Kroll specializes in investigation of fraud and embezzlement and operates offices in many cities around the world.

The company, which employs lawyers, accountants, former employees of conglomerates, detectives and secret agents, is considered a tough investigator.

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