Former Landsbanki Shareholders To Sue Björgólfur - The Reykjavik Grapevine

Former Landsbanki Shareholders To Sue Björgólfur

Published September 14, 2011

More than two hundred former Landsbanki shareholders have signed a class action suit against the bank’s former majority owner Björgólfur Thor Björgólfsson, also known as Iceland’s first billionaire.
Attorney Ólafur Kristinsson told RÚV that a steady flow of people—Icelanders and foreigners—have been in contact with him since he advertised the suit in the papers.
The advertisement stated that shareholders who owned a total of three percent in the bank when it crashed have already confirmed their participation. It also notes that public information indicates that Björgólfur Thor is capable of paying damages to the 20.000 former shareholders.
It’s perhaps worth noting that Björgólfur issued a legal complaint with The Ethical Committee of the Icelandic Press Association last month over an article that The Guardian ran: “Icelandic tycoon still living the high life in London after the collapse of Icesave.” The complaint has been dismissed.


Show Me More!