The bond which the investment fund Fyrirtaekjabref Landsbankans bought from Bjorgolfur Gudmundsson in 2005 for ISK 400 million was used to finance the setting up of a memorial fund for Gudmundsson’s daughter. Read the full story

The former majority owner of Landsbanki (parent to Icesave), West Ham and Samson holding has filed for bankruptcy. This is by far the biggest of its kind in the history of Iceland, just over 95 billion ISK, almost 500 million pounds. His assets have as good as disappeared since the fall of the banks last year. Read the full story

Reykjavik District Court today agreed to Bjorgolfur Gudmundsson’s request to be declared bankrupt. Read the full story

The infamous father-son Icelandic businessmen Bjorgolfur Gudmundsson and Bjorgolfur Thor Bjorgolfsson have offered to pay New Kaupthing Bank 40 to 50 percent of their ISK six billion debt to the bank, Frettabladid reports. The pair wishes to pay ISK 500 million of the debt this year. The debt reportedly comes as a result of their company, Samson Holdings, buying a 45.8 percent stake from the State in the newly privatized Landsbanki in 2003. Read the full story