The contents of an email sent by Kaupthing CEO, Finnur Sveinbjornsson to the bank’s employees have been published by Pressan.is Kaupthing’s management does not believe that the solutions on offer by the government to aid households in debt are going to work. The bank is working on its own solutions which it intends to introduce [...]

The Office of the Special Prosecutioner is showing some vital signs by entering and searching through ten companies last week, including shipping company Samskip and Kjalar Invesments owned by Olafur Olafsson. Almost twenty people were interrogated and a few are under suspicion of criminal behavior. Some of those individuals are apparantly well known but their [...]

… the surreal nature of libel tourism can be found in the case of the Danish paper, Ekstra Bladet, which found itself being sued by the Iceland-based bank, Kaupthing, after it criticised it. Kaupthing’s default has caused distress to British savers, and every Member will have a constituent who has lost money and is very [...]

  The business empire of Robert Tchenguiz has been hit with a £180m lawsuit after preventing Kaupthing, the failed Icelandic bank, from seizing control of its proceeds from the sale of Somerfield. The claim highlights the bitter falling-out between the bank and its largest customer. At one point last year, Kaupthing’s loans to Tchenguiz companies [...]

Yes, the Icelandic banks have left a lot of damage. But Gordon Brown should not use them to divert from his own problems. Owned by Icelandic bank Kaupthing its UK operation of Kaupthing Singer & Friedlander operated as a British bank, supposed to be supervised by the UK Financial Supervisory Authority. The UK government has [...]

“Dear Mr.Graham Brady: I am an Icelandic citizen and like so many citizens from both my country and the UK, I am absolutely appalled by the havoc irresponsible bankers have wrought on our societies. I am also extremely bothered by the lack of regulatory supervision by the Icelandic banking regulatory authorities that helped create our [...]

  Speaking during Prime Minister’s Question Time, Mr Brown said he was also worried about Christie’s but there were many more people affected and the issue must be looked at “in the round”.  He added: “I visited the nurses at Christie’s hospital when I was in the North. The fact is we are not the [...]

“The current situation of Iceland is worse than any recession that any nation has had to endure since the Great Depression.” The consultants at Oliver Wyman who have been looking into the assets of the failed Icelandic banks make no bones about it. Morgunbladid has published extracts from their memo to the Icelandic government from [...]

With hindsight, the episode looks all the more uncomfortable because of Kaupthing’s complex relationship with Tchenguiz. He was not just its largest customer but also led a series of private equity-style joint-venture deals in which Kaupthing co-invested its own money. Moreover, in early 2007 he became a major investor and board member in Exista, an [...]

Islandsbanki, formerly Glitnir were the first to confuse themselves with a being a public bank when they announced that they were offering those with currency loans solutions the day before the government announced such initiatives. Landsbankinn is now running an ad campaign offering home-loans free of price-indexation, a novelty that Icelandic households have been crying [...]