According to British newspaper The Guardian, a lawsuit to the tune of $2bn (£1.3bn, €1.6bn) was launched against Baugur boss Jón Ásgeir Jóhannesson and his executives yesterday for their apparent plans to “siphon cash out of [Glitnir]”. In addition to this, the Glitnir winding-up committee are suing PriceWaterhouseCoopers, the bank’s auditors, for negligence.

At the request of a British judge, Jón Ásgeir’s assets have been frozen the world over. The court served papers to Jón Ásgeir in his Manhattan apartment last night. His partner, Ingibjörg Pálmadóttir, is not off the hook either. She faces court after failing to repay a $30m (£20.3m, €23.6m) loan to open a luxury boutique hotel in Reykjavík.

The lawsuits are a culmination of an investigation into the causes of the bank’s collapse by forensic accountants Kroll.

Sources: mbl.is, guardian.co.uk
Image: Wikipedia

Labels: Baugur, Kreppa