Kaupthing Rejects Claims by Tchenguiz Brothers Skip to content

Kaupthing Rejects Claims by Tchenguiz Brothers

The winding-up committee of Kaupthing Bank has rejected the claims for compensation Vincent and Robert Tchenguiz have made to the bank’s bankrupt estate, ISK 440 billion (USD 3.4 billion, EUR 2.5 billion) in total.

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

According to Morgunbladid, it is considered likely that the Tchenguiz brothers will take their case to Icelandic courts.

Kaupthing Bank’s resolution committee has already called in Robert Tchenguiz’s GBP 640 million (USD 964 million, EUR 715 million) overdraft at the bank.

The Daily Mail reported in October that the British Serious Fraud Office was about to launch an investigation into loans three British tycoons received from Kaupthing, including Robert Tchenguiz.

Click here to read more about that story.

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