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

Failed Icelandic bank seeks 197 million euros from former staff

REYKJAVIK — Failed Icelandic bank Kaupthing said Monday it would seek to recover 32 billion Icelandic kronur (197 million euros, 244 million dollars) from former executives who had taken loans to buy shares in the bank.

Around 80 former employees, many of them former top executives, have been informed they would be held personally liable for huge loans they had taken to buy shares in Kaupthing before it collapsed in October 2008, administrators of the bank's liquidation said in a statement. . .

Iceland's third failed bank Landsbanki has also said it is planning a lawsuit to try to get back as much as 1.5 billion euros from former executives and shareholders. 17-May-10.