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

Kaupthing executives held by Iceland police

Two former executives of collapsed Icelandic bank Kaupthing were ordered on Friday to be held in police custody while prosecutors consider a criminal case against the pair.

Reykjavik District Court approved a request from the special prosecutor responsible for investigating the Icelandic banking crash of October 2008 to hold former CEO Hreidar Mar Sigurdsson for 12 days.

Magnus Gudmundsson, the former head of Kaupthing's Luxembourg operations, will be held for seven days.

Both men were detained Thursday -- the first high-profile arrests in the wake of the banking crash, which crippled Iceland's economy and forced out the tiny Nordic country's former leaders. . .

Iceland's Special Prosecutor Olafur Thor Hauksson said that Sigurdsson is suspected of falsifying documents and breaking laws on stock trading for personal gain. The Associated Press 07-May-10 ~ Bloomberg Business Week website.