A small Icelandic company has won its case against the finance company Lýsing that its loan contract agreement for the purchase of machinery was illegal. The ruling is a blow to embattled financiers, but will be welcomed by many businesses still struggling with debt. Read the full story

The owner of a north Iceland hardware store is bringing charges against Landsbanki bank for theft. Read the full story

LIN, the Icelandic student loans fund, has summoned Supreme Court of Iceland judge Vidar Mar Matthiasson to the Reykjavik District Court in a case over responsibility for a student loan he vouched for in 1985. The case came before the court this morning. Read the full story

A majority of the former Kaupthing Bank employees who were originally let off repaying loans used to buy shares in the bank, pre-collapse, have now made a payment deal with its resolution committee. Read the full story

Iceland’s Arion Bank is in the process of voluntarily amending foreign-currency loans taken out with the bank by businesses and individuals before the financial crisis of 2008. Read the full story

The Swedish Enforcement Authority has revealed that Swedish women are now defaulting on SMS loans at the same rate as men, for the first time ever. Read the full story

A former executive at Iceland’s now-defunct Kaupthing Bank has been ordered by a court to repay a ISK 640 million (EUR 3.9 million) which the bank granted him to buy Kaupthing shares. Read the full story

Iceland’s opposition Independence Party reportedly mortgaged its headquarters last month for a ISK 125 million (USD 1.07 million) payout from Islandsbanki. Read the full story

Legislation regarding unlawfully foreign-denominated loans to Icelandic households has come into force following its enactment by parliament. Financial institutions now have 90 days to convert foreign-denominated automobile loans in accordance with the interest rates published by the Central Bank of Iceland. Furthermore, households with housing mortgages will have the option of converting the loans into inflation-linked loans or non-indexed loans. Read the full story

The Supreme Court of Iceland has confirmed the decision of the Reykjavik District Court that foreign currency indexed loans (ruled illegal earlier this year) should now be charged the Central Bank of Iceland interest rate for non-inflation indexed domestic loans. Read the full story