Highest Claim to Landsbanki ISK 925 Billion Skip to content

Highest Claim to Landsbanki ISK 925 Billion

The highest single claim to Landsbanki’s bankrupt estate is ISK 925 billion (USD 7.5 billion, EUR 5 billion) from the British Depositors’ and Investors’ Guarantee Fund. The Icelandic pension funds are claiming a total of ISK 100 billion (USD 810 million, EUR 540 million), as revealed yesterday.

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Total claims amount to ISK 6,500 billion (USD 52 billion, EUR 35 billion), Morgunbladid reports.

Priority claims are worth almost ISK 2.9 billion (USD 23 million, EUR 16 million). Nearly half of those claims have been approved. Around 12,000 claims have been received and some are awaiting the bank’s resolution committee’s decisions.

Former CEO of investment company FL Group Hannes Smárason has the highest claim among individuals, ISK 1.2 billion (USD 9.7 million, EUR 6.5 million).

According to Fréttabladid, 15 of Landsbanki’s former employees are making claims worth ISK 2.6 billion (USD 21 million, EUR 14 million) in total to the bank’s bankrupt estate. The highest single claim is ISK 490 million (USD 4 million, EUR 2.7 million).

Landsbanki’s resolution committee has yet to decide how to handle these claims.

“I think they are lacking all morals and not in touch with reality to even think of making claims like this,” commented Left-Green MP Ögmundur Jónasson.

“These numbers are incredibly high and they emphasize the extremes that were going on,” said Independence Party MP Illugi Gunnarsson, adding that he must look into this case in more detail before making further comments.

Fridbert Traustason, chairman of the Confederation of Icelandic Bank and Finance Employees, said it is difficult to accuse people who are seeking their rights according to standing agreements. “I have always said that the people responsible for making these agreements should rather be accused.”

Jónasson said it is unbelievable that such an angle is being mentioned while the national economy is struggling.

“Insurance benefits are being cut and it is being discussed to cut unemployment benefits. We are making cutbacks in healthcare and at the same time people are making claims based on bonus agreements, call options, etc. I feel that people are stepping out of the map of Iceland that I want to know,” Jónasson concluded.

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