Close to 100 individuals who had mortgages at the old commercial banks that have now been nationalized, Landsbanki, Glitnir and Kaupthing, have requested that the law firm Lögmenn Laugardal represent their cases against the banks.
The headquarters of Kaupthing in Reykjavík. Copyright: Icelandic Photo Agency.
According to Morgunbladid, the plaintiffs believe that the terms of their mortgages are no longer viable.
They are also considering suing the former key executives of the defunct banks as well as their owners and the government.
Furthermore, the group is looking into filing a lawsuit against companies that finance auto loans.