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Independence Party uses Reykjavik HQ for loan collateral
Iceland’s opposition Independence Party reportedly mortgaged its headquarters last month for a ISK 125 million (USD 1.07 million) payout from Islandsbanki. According to Frettatiminn, the loan is the...
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Kaupthing debt write offs overturned by court
A former executive at Iceland’s now-defunct Kaupthing Bank has been ordered by a court to repay a ISK 640 million (EUR 3.9 million) which the bank granted him to buy Kaupthing shares. Reykjavik...
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Swedish women matching men for debt
The Swedish Enforcement Authority has revealed that Swedish women are now defaulting on SMS loans at the same rate as men, for the first time ever. The SEA’s Cecilia Fredholm said, “Traditionally men’s...
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Arion Bank reassessing loans
Iceland’s Arion Bank is in the process of voluntarily amending foreign-currency loans taken out with the bank by businesses and individuals before the financial crisis of 2008. A statement from the...
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Kaupthing staff agree to share buying loan repayments
A majority of the former Kaupthing Bank employees who were originally let off repaying loans used to buy shares in the bank, pre-collapse, have now made a payment deal with its resolution committee....
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Supreme court judge to district court
LIN, the Icelandic student loans fund, has summoned Supreme Court of Iceland judge Vidar Mar Matthiasson to the Reykjavik District Court in a case over responsibility for a student loan he vouched for...
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North Iceland shop claims bank is stealing its money
The owner of a north Iceland hardware store is bringing charges against Landsbanki bank for theft. The shop in Akureyri has been in negotiation with Landsbanki for three years over its debts on...
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Reykjavik District Court makes small ruling with wider implications
A small Icelandic company has won its case against the finance company Lýsing that its loan contract agreement for the purchase of machinery was illegal. The ruling is a blow to embattled financiers,...
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