As noted before it seems like the best job in the world today is to be on the solvency committee of an Icelandic bank.
At Glitnir, Arni Tomasson is busy wondering how to get failing businesses into the “right hands”. Arni was the manager of Bunadarbankinn which lent Bjorgolfur & son the money to buy Landsbankinn during privatization, a ridiculous act when they were supposed to have brought in their money earned in Russia. After the Financial Authorities removed three people off the solvency committees last week for having been too involved in the old banks, Arni hired one of them immediately to a new position as CEO of Glitnir.
But Larentsinus Kristjansson, head of Landsbankinn’s solvency committee has found a way to make money off the whole thing. Law firm, Logfraedistofa Reykjavikur has sent Exista a 250 million ISK bill towards a 27 billion ISK loan which the solvency committee has called in on the company. Banks and firms using law firms as collection agencies in Iceland is quite common and the law firms make huge amounts of money off the collection fee.
Larentsinus just happens to be one of the owners of Logfreadistofa Reykjavikur!
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Silvia Planchett
2 years ago
It´s possible to be so crooked that lying, cheating and stealing are regarded by the perpetrator as acceptable human behavior!
Dadi
2 years ago
The Solvency Committee has just released a press statement saying that Larentsinus stepped out of the meeting when it was decided to use Logfraedistofa Reykjavikur.
The equivalent of Bjorgolfur Gudmundsson stepping out of meetings when Landsbankinn’s loan committee discussed loans to himself.