Sigurdur Einarsson, the former chairman of the board at Old Kaupthing has put in a claim for lost wages to the bank’s resolution committee amounting to ISK 244 million (USD 1.9 million). No claim has been received from former bank president Hreidar Mar Sugurdsson, however.
Inglofur Helgason, the former director of Kaupthing’s domestic operation in Iceland, has claimed wages worth ISK 81.5 million and Gudni Niels Adalsteinsson, the bank’s former CEO has claimed ISK 29 million.
Claims to Kaupthing’s resolution committee come from 119 countries, with roughly half from Germany in the form of interest claims. Among the biggest claimants are Icelandic businesses and individuals, Icelandic and overseas banks, as well as various overseas investment funds, mbl.is reported.
The total amount of claims received so far against the estate of Kaupthing is around ISK 7,316 billion using the Central Bank of Iceland exchange rate on the 22nd April 2009. The total claims amount is higher than total debts according to financial calculations from 30th June 2009.
is this a joke!!!!!
dear editor!
It is with deep sorrow I read that there are still former “bank experts” that have absolute no scruples and no respect for the Taxpayers in Iceland, at this stage of the icesave discussions and coming referendum.
I suggest that this “bank experts” now show their sympathy for the Icelandic people who suffer for their enormous misuse of assets and instead >if they get the moneygive it back to the state of Iceland for coming economic help in order to solve the enormous dept. that they have been a part of to create.
Shame on you!
After wrecking my family?!!! After taking every single penny I had in the world. Money that i WORKED 30 YEARS to save for! That man wants his wages?!!! Mr Einarsson, you are a thief and a vagabond and you dont give a damn to the thousands of people who’s lives have been wrecked by your actions.
Mr Einarsson, why dont you take a look at what you did to people. Just take a look:-
http://iompauper.blogspot.com/2008_10_09_archive.html
http://iompauper.blogspot.com/2008_10_10_archive.html
http://iompauper.blogspot.com/2008_10_14_archive.html
http://iompauper.blogspot.com/2008_10_17_archive.html
.
.
.
That blog stopped on the 24th of April 2008. Nothing more has been heard from that person. Iceland may play games, calling Britain names, but please remember that lives have been destroyed.
” Iceland may play games, calling Britain names”
Iceland is a rock, its not calling any one names,
almost all of the 317000 people who live there are NOT bankers
and did not own KB bank, Sigurdur lives in London where all the major thieves and croocks in the banking busyness live,
and KB was put into administration by British authorities and worked under British compensation shceeme.
Sigurður Einarsson lives in Chelsea in a appartment building on Kings road close to the football stadium.
Ármann Þorvaldsson former CEO of Singer and Friedlander lives in Richmond, Kew Riverside area on Greenlink Walk close to the Thames.
almost all of the Icelandic bankers now live in Britain.
Dan Morris did write :
>Mr Einarsson, why dont you take a look at what you did to people. Just take a look:-
>
>http://iompauper.blogspot.com/2008_10_09_archive.html
If you read the blog posts this is actually about what Brown and Darling and the UK FSA did in conning IoM FSA to send those GBP 550 millions into Kaiupthing Singer and Friedlander where then Darling could then have it seized.
http://www.icenews.is/index.php/2009/11/23/kaupthing-employee-accused-of-stealing-millions/comment-page-1/#comment-102924
As I have said my many times it is those Kaupthing IoMan depositor ( and same Landsbanki Gurensey ones ) that I do feel most sorry for in whole situation.
They are ones most effecte by Brown and Darling taking Kauthping Singer Friedlander for no good reason.
>and KB was put into administration by British authorities and worked under British compensation shceeme.
>
>Sigurdur lives in London where all the major thieves and croocks in the banking busyness live,
Yes Kauthing Singer and Frieldander and Kautthing Edge was completely regulated by UK FSA.
If these director chairman of Kaupthing do want to put in claim for they lost money that is up to liquidator to decide on they claims.
Bear in mind that they did lose all they worked for also when the shares ( as did many of the Icelanders who invested in shares in the banks ) went to less than zero after Kaupthing was put into administration.
Whether they will get paid any thing, well that is another matter. But these men and women did work hard to build the bank up, and they are not sitting on some huge pots of gold.
Depositors are getting money back. It may not be all immediatelly but at least there is money being paid :
£85m already has been paid to depositors under an early repayment scheme that gave as much as £10,000 to the individual depositors.
http://www.kaupthingsingers.co.uk/Pages/4173 21 Jan 2010 Kaupthing IoM Ltd :
” Cash held at the moment is approximately £130 million. Of this amount, £75 million represents first and second distributions in respect of claims which have not yet been agreed and other claims which are anticipated but have not yet been made. A further £31 million is the rump of cash received from the sale of shares during 2009, which cannot be made available for distribution until June 2010. Of the remaining balance, £2 million is due to preferential creditors, and £11 million is reserved to meet future liquidation and running costs. This leaves £11 million which would currently be available for distribution. “
They are ones most effecte by Brown and Darling taking Kauthping Singer Friedlander for no good reason.
Apparently they did have good reason:
http://www.icenews.is/index.php/2009/10/21/kaupthing-loses-claim-against-british-government/
Regarding the “con” that you mention, you provide a timeline in that link that shows what happened. In April/June the decision was taken to move the money from Kaupthing.hf to KSFUK. There was then a gap of ~4 months. Then the FSA closed KSF down.
So the two events were not close in time.
Now, pretend that you don’t have a personal opinion about this. A regulator removes the licence from a company because it fails to comply with instructions. But, just before, that regulator tips off the regulator in another jurisdiction, who obviously then tell their local subsidiary, who then transfer money back home.
Net effect? Good news for the foreign company and their creditors, bad news for the home company and its creditors. Through its action that government body, by informing another (usually) friendly
regulator, has interfered in a liquidation to the detriment of the creditors.
That would be so obviously wrong to me. Why not to you?
Also, do you know whether the creditors of KSFIOM have been better off if their money had remained in K.hf?