Icelandic Tycoon Did Not Appear in Court in Person Skip to content

Icelandic Tycoon Did Not Appear in Court in Person

Jón Ásgeir Jóhannesson, former CEO and later chairman of Baugur Group, did appear in court in person in New York yesterday to testify in the case of Glitnir Bank’s winding-up committee against him and six others.

Jón Ásgeir Jóhannesson. Copyright: Icelandic Photo Agency.

The lawyers representing Jóhannesson and the others have demanded that the case be dismissed. Jóhannesson told ruv.is that neither he nor the other accused will testify until a conclusion has been reached in the dismissal case.

The Glitnir winding-up committee is demanding compensation, claiming that Jóhannesson and his team used funds from Glitnir to cover personal expenses.

The defendants have said this court case should not take place in New York, but the lawyers representing the winding-up committee disagree. They called the accused in for questioning and asked them to submit various documents.

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