30-Mar-2016: Liquidators' Update, see Deloitte site

Landsbanki. Bad management or personal gain?

The newly restored Landsbanki is full of secrets. For a government bank it should seem incredible that the information flow is blocked by the bank director Ásmundur Stefánsson and the solvency committees of the fallen bank (Old Landsbanki).

There are two main things that have been surfacing recently. First is the massive 30 billion ISK loan to The Icelandic Group AFTER the economic collapse. The Icelandic Group is the golden calf of the Icelandic fishing industry. The company has exported fish for decades and should by all normal business standards make insane amounts of profit.  The company on the other hand has fallen into the hands of the greedy and stupid. The goldmine has turned sour by the owners’ investments that can be considered as “insane”.  Independent Icelandic News website - 18-Jan-10.