Bjorgolfur Gudmundsson is bankrupt. His personal debts amount to 96 billion ISK, the largest individual bankruptcy in Icelandic history.

This is how highly leveraged you can get if you own a bank.

So now 66.66% of the people that were handed Landsbankinn by the Independence Party have become bankrupt. Magnus Thorsteinsson having been bankrupted to the tune of roughly 900 million ISK earlier this year.

Shouldn’t somebody look into the whole bank privatization thingy of 2003…shouldn’t they?

Bjorgolfur would like people to know that his wife herited their house from her parents and would like her to be kept out of discussions of his personal finances.

Fine by us, if he keeps his hands out of Icelandic business and commerce for the rest of his life.

PS: Updated 2.8.2009 – Apparantly Bjorgolfur´s bankruptcy is larger than any individual´s in the UK ever.

Related posts:

1. Bjorgolfur & Bjorgolfur Thor Personally Responsible For Billions
2. Bjorgolfur Thor’s Delusion
3. Do Desperate Times Call For Desperate Bjorgolfur?
4. Iceland In A Nutshell – Tit For Tat
5. Bjorgolfur and Son Ignite Civil War